Thank You Madam Chair,
We align ourselves with the statement made by Fiji on behalf of the Group of 77 and China.
We also thank the Secretary General as well as the UNCTAD for reports on the agenda item.
We will like to make some additional points in our national capacity.
First,the difficult global economic situation over the past years has led to the decline in the growth of international trade. The establishment of a universal, rule based, open and non-discriminatory multilateral trading system will help us mitigate the downward trajectory of the international trade growth. In this regard, we look forward to a successful Ministerial Conference in Bali, later this year.
Second,Bali shall be seen as a step on the way to a successful conclusion of all the issues relevant to the Doha Round. It is critical to keep the focus on the development aspect of the Round.
Third,the proliferation of trading arrangements outside the WTO presents a twofold challenge. One is ensuring that such arrangements do not lead to weakening of a multilateral trading system; and since such arrangements are often among the major trading nations, therefore, two is ensuring that they do not lead to any additional burden for not so big trading countries as well as do not hinder the flow of international trade benefits reaching these countries.
Fourth,the global value chain is a reality. The challenge is to help those countries that have not so far truly gained from this development in the international trade. In this regard, it is important to support their capacity building through investments; technology; and best practices advice to enable them join the others as well as move up the value chain.
Fifth,sustainable level of debt is essential to support economic growth. Important efforts have been made to assist the highly indebted poor countries. The matter of debt relief, when required, to countries that are not part of the current initiatives deserve earnest attention.
Sixth,the debt problem, currently faced even by developed countries, highlights the need for establishing a rule based debt restructuring mechanism. We welcome the increasing realisation to address this issue. It is, nevertheless, crucial to initiate real work on an early establishment of such a mechanism at the international level.
Seventh,there is a need to recognise the importance of commodities for development of developing countries. The efforts of developing countries on the integration of local producers into international supply chains, therefore, shall be supported by the international community. Trade facilitation in the international movement of agriculture commodities, remains an important initiative for access to food at reasonable prices.
Pakistan delegation looks forward to contribute to the work of this Committee on these important matters during this Session.
I Thank You.