HAFEEZ URGES FOR MORE PERMANENT RELATIONS AMONG SOUTH ASIAN REGION COUNTRIES TO BENEFIT FROM W.T.O GLOBALISATION & TRADE LIBERALISATION

Islamabad, August 17, 2004

The people of South Asian Region countries need to develop better linkages through more permanent set of relations to shares better understanding to benefit from the W.T.O globalization and trade liberalization for the progress and prosperity of the people of the region.

Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment stated this while inaugurating three day annual Conference of South Asian Civil Society Network on International Trade Issues (SACSNITI) on WTO Post-Cancun Developments: Options for South Asia, organized jointly by Sustainable Development Policy Institute (SDPI), Consumer Unity and Trust Society (CUTS) India, Oxfam GB Pakistan Program and South Asia Watch on Trade, Economics and Environment (SAWTEE) here today.

The Minister said that it was encouraging to note that the people of region were joining hands for regional trade grouping by interacting for economic growth and bringing closer the civil societies of South Asia, which would not only enhance the capacity to comprehend and analyze the effects of multinational trade agreements on issues of concern to this region but it would also expand the existing civil society groups including relevant academic organizations and research institutes.

He further stated that all countries of the region have accelerated their efforts for increasing the growth rate during the past three-four years among them Pakistan has also surpassed 6 % Growth rate with significant improvement on macro economic front and increase in trade. Some of the decisions in the wake  of globalization were far reaching, he observed.

Dr. Hafeez Shaikh stated that Agriculture was important to the region's countries while other areas were 50 % service based. There was need to improve our industry to improve efficiency and quality for meeting the challenges of globalization, he added.  Mr. Pradeep S. Mehta, Secretary General, CUTS International and Mr. Shiv Shankar Menon, India's High Commissioner to Pakistan also addressed the inaugural session. The final conference is being held from 17-19 August 2004. The broad focus is on taking stock of the post-Cancun scenario, RTAs and options before the South Asia Region, textiles and clothing-post MFA era and trade in services-issue of outsourcing, agriculture etc. It will also discuss the future agenda of the SACSNITI project and how to carry-forward its South-Asian trade network. The conference is being attended by civil society representatives, researchers from research institutions, academics & experts, policy-makers, business representatives and media persons from the South Asian countries in this three day conference.