KARACHI – The next meeting of World Trade Organisation (WTO) will be the last resort in a bid to secure approval for unilateral trade concessions proposed by European Union (EU) for Pakistan. The EU, which has failed to convince members, especially India, which are in opposition to the provision of the facility to Pakistan after the devastation wreaked by the summer floods across the country, will seek the waiver in WTO rules during a meeting of the organisation to be held in May 2011. According to sources, the EU representative attending the WTO meeting held on March 21 have informed the meeting that as the union has not succeeded in its efforts to win over opposing countries, in particular, India; the next meeting of WTO will be deemed the last chance to seek approval on the facility.
Due to the lack of a positive result in the meeting which was being held for the third time after the EU had moved the draft wavier in its application to the WTO, the Pakistani side has become demoralised and lost hope on the possibility of approval with regards to the approval of the facility amid strong opposition from the neighboring country. The EU representative has also informed that meeting that the EU has been in contact with those delegations that had expressed concern over the EU request for a waiver on its tariff preferences for Pakistan. “The EU believed it had allayed some of the concerns, and intended to continue these consultations but stressed that further delays would defeat the purpose of providing immediate help to Pakistan’s economy affected by the floods” the representative said. It was also noted that it views that, “The General Council meeting in May 2011 as the last real chance to resolve the issue”.
He also indicated to the meeting that as the period in which the EU waiver request has been under consideration has exceeded 90 days, the Goods Council must provide a factual report on this situation to the May General Council. However, during the WTO meeting India and Bangladesh confirmed they were holding discussion with the EU on the concessions. Peru said it would welcome further consultations with the EU on the matter.
