Saudi Arabia’s government media office has said authorities have not placed any restrictions on Turkish goods. PHOTO: REUTERS/FILEThe political economy of trade is governed by trade policies and in the situation created by the Covid-19 pandemic many countries are using ad hoc restrictions on imports and exports, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on WTO Affairs Convener MA Jabbar. On the other side, he said, conventional exports from Pakistan with resource-based comparative advantage and subsidies were not picking up and each and every review of the country’s trade policy by the World Trade Organisation (WTO) had called for diversification of the economy. Also speaking on the occasion, Ministry of Commerce Joint Secretary (WTO Wing) Aisha Humera Moriani said since the gradual shift in dynamics of international politics, the dynamics of global trade had also changed with time. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune October 27, 2020 03:33 UTC