Pakistan’s trade policy in recent years seems rather confusing and purposeless, to put it mildly. With the global economy slowing down post 2008 and remaining so till today, and with commodity prices crashing – the bottom perhaps still to come – countries have suddenly become very careful about whom they trade with and what they trade in. Gone are the days when they single mindedly focused on expansion of trade or had blind faith to slip into the prescribed WTO straight jacket to become a part of the global trade order. Today they instead choose to do business only where visible gains can be felt tangibly.
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Authors: THE NATION