In this current economy, there is still opportunity to make money in telecom. You will believe it after I review with you what is about to happen over the next few months. Financial Destination Inc will be launching a full line of telecom products on August 15th, 2009 to over 60 countries. You can now partner up with Financial Destination and make money offering these services to customers. You will be able to reduce the cost of telecom usage by up to 95%.

Some of the benefits of Financial Destination going international with telecom are:

* Unlimited voice, text and data plans for as little as $10 a month, with no credit checks or contracts.

*Users will be able to talk on their cell phone while flying in a commercial aircraft from coast to coast, without violating the “no cell phone” law and at no cost.

* Voip using a dial-up connection.

*Free unlimited access to Video Conferences with or without a video phone and for up to 23 people. 

Financial Destination owns the tone (and I mean literally) and is proving it in a big way. FDI International will cover seven categories of Telecom. Telecom as we know it is changing and FDI is leading the charge.

*Cellular

*VOIP

*Residential

*Calling Cards

*Video Phones

*Business Solutions

*Hardware and Equipment

Call Toby Weston at 503-679-5234 to hear more about this tremendous opportunity. We very personable, are looking for long term business partners, and have a duplicatible online and offline system to market and grow your business.We are here to answer your questions and help you start making and saving money. You could not choose a better team to join.

http://www.fdiglobal.biz

http://www.fdiwireless.info

 



By: toby12

About the Author:

Financial Destination Inc., (FDI) has done it again. FDI has pulled off another successful event: The National Convention in Baltimore, MD the weekend of August 14th. One would have thought that after FDI’s Convention 2008, FDI could not do anything more to improve their products and services. But everyone was wrong. William Andreoli, a.k.a. Bill Andreoli, always finds a way to improve the company and shock it’s reps. 

Weeks before the conventions, FDI leaked bits and pieces of information. Reps and customers started to hear that FDI was entering into the global telecommunication industry. Reps became excited and the industry was a buzz. What was going to happen? What where the details? What is the new technology and how can we make international calls cheap? How can FDI own the tone and with what type of telecom services? How can we really talk on a cell phone while flying in commercial airlines? What is a GSM telecom phone? How would FDI compare to other companies?

Well within weeks prior to convention, more details were revealed and the Convention 2009 took off. With the Magic of GiConnect, FDI’s Convention 2009 was a huge success and provided all the answers and more. It truly was the largest convention in FDI history.

By partnering with GIConnect and it’s CEO Kuba Farbiarz, a telecommunications company that has proven itself outside the US with 16 years of experience, FDI International positioned itself to be a world leader in global communications. Armed with cutting edge technology and two visionary leaders set to take the company to new heights. FDI International truly owns the tone.

Telecommunication is a huge industry well in the trillion-dollar mark worlwide. We are always finding ways to communicate more, we are never communicating less. Let’s face it, two years ago most adults would not dream of sending a text message. Texting was just too childish. But now, 65 year olds are texting. OMG. LOL!!!

Now, FDI International has found a way for people around the world to communicate more for less money. By using VoIP technology, which in most respects is still in it infancy stages, FDI International is able to offer rates so low that people can communicate with their loved ones more often.

FDI International also brings VoIP to cellular. Allowing individuals to drastically save on a bill that seems to have exponential growth. In the areas of residential, cellular, business solutions, calling cards the world is able to save up to 95% on communication. FDI International is more than cellular. Customers have the ability to make international calls at rates so low it would be just like making a local call. Customers can print their own calling cards and have unlimited calls for less than a $1 a day.

With the array of products and services, FDI International has truly positioned itself to be the global leader in providing business and personal communication solutions around the world. The telecommunication industry is changing, and FDI International is positioned to be ahead of the curve.



By: Lynette Jones Lewis

About the Author:

Global Networking Telecom wars are in full effect and Standing at the Top of the heap is FDI International (Financial Destination – FDI). On July 4th Financial Destination announced on “the conference call that was heard around the world” that they would be broadening into the 4 trillion dollar worldwide telecom industry through 50/50 partnership with GI Connect a 16 year old Billion dollar international telecom Giant. This agreement is different from other telecom MLM’s from the view that this is simply not some contractual agreement to resell services as a middle man. By getting into a 50/50/ partnership agreement with a true telecom company FDI International owns the tone and can fix prices under anything else on the market. Because of this and its special technology, it is said that FDI International will be able to extend unlimited talk plans for as little as $25 or less per month. As you can imagine consumers are sitting on the edge of their seats and networkers are flocking to this organization in droves attempting to get on the ground floor of what promises to be an explosive opportunity. So with all the expectation and hype surrounding this opening the query remains…

Can FDI International live Up To All Of The Hype? Can they pull it off? Will they fall prey to the same perished effort as Buzzirk Mobile, Global Verge Mobile, and others before them or will they bring home the bacon? Are they A Fly By Night Company or a Logical Home Business Opportunity?

Various doubts are cropping up in every mind- Will FDI International be able to testify its worth or will it be a nonstarter like the Buzzirk Mobile or the Global Verge Mobile. Will it vanish soon or will it be a long-term business venture? Curious minds are inquisitive as to whether the FDI will crumble like Global Verge Mobile and the Buzzirk Mobile? Will it be able to transform all ambitions in to reality? Shall it be a fleeting affair or a prosperous business enterprise? People are eager to know certain facts about the hype surrounding FDI. Is it going to be successful or shall it fade away like the Buzzirk mobile and Global Verge Mobile. Has it come to the market to stay on or fade out rapidly? The hype involving FDI is catching the imagination of the individuals. They are anxious to know if FDI is established or if it will go in to limbo like the Global Verge Mobile and Buzzirk Mobile. Is it an interim or an imperishable enterprise? FDI international after its set up has captured the hearts of the people. Individuals are impatient to see it perform well and not disappear like Buzzirk Mobile and Global Verge Mobile. They want confidence that it is not a passing thing and has come to stay.

Well, all accounts seem to suggest that FDI will not only “Live Up To The Hype” but will surpass outlooks. Unlike newer networking telecom start-ups that have tried unsuccessfully to enter the marketplace, Financial Destination and GI Connect are no start-up organizations trying to deliver a new product to the market.It seems from all sources that FDI will surpass the hype and do extremely well. FDI is different from the new companies that have tried in vain to make a debut in to the market. Financial Destination and GI Connect are proven organizations with a great reputation. FDI will by all odds not dishearten its well wishers as it is not a new company and are seasoned in commercializing. Financial Destination and GI Connect will satisfy all their clients and grow above all the hype by their brilliant execution. FDI is not a startup company in telecom networking. Its endurance all these years testifies the fact. The hype surrounding it is typical. However it is forecasted that Financial Destination – FDI will raise much above the hype. FDI is an accomplished name in the domain of worldwide telecom networks. Therefore it is apparent that it is imperishable and the hype around it is normal. Dissimilar the new startup companies that are unsuccessful in their businesses Financial Destination will do a exceptional job rising above all levels of expectations. Startup companies have went away after trying to establish themselves. FDI has the advantage of being a esteemed company. It has marketed products with maturity. The hype is evident. Not only will Financial Destination live up to the hype, it will excel surpassing all expectations. Combined they have been in business 22+ years, earned over 1Billion dollars in revenue, backed tens of thousands of distributors and millions of customers in 62+ Nations, delivered new cutting edge technology and services to the market over and over again, and have already built up an infrastructure capable of supporting global operations.

In other words this Launch and adding forefront technology and offerings to the market is just business as usual for these 2 companies. However, for the distributors and customers it is nothing butt… This partnership will get to the market cutting edge technology that very few in the industry have seen. This technology will also allow reps to save customers 50%- 90% on the existing telecom expenses. In other words at a time when everyone is searching for ways to save money, they will be teaching people how to save up to 95% of the money that they are already spending! This is the formula for huge growth and success.

On August 14th Financial Destination Inc. will be establishing its Global telecom company FDI International and will be open for business in 62+ countries straightaway. Here is a recap of a recent company call describing the Launch:

Telecom is a $4 Trillion Industry worldwide, $1.3 Trillion in US Alone. FDI International will launch simultaneously in the US and over 60 countries worldwide. Using cutting edge technology saves up to 95% of the cost of Telecom today. Do this with NO contracts and NO credit verifications! Their Copyrighted technology is an FDI exclusive! Largest compensation program in FDI history with six-figure quarterly potential They OWN THE TONE! Only minimum $199 one time setup fee to plug-in to FDI International! Do cell phone to cell phone calls to and from anyone in the world without roaming, long distance, connection charges, or per minute fees of any kind. Technology that will enable you to talk on your cell phone while flying in a commercial flight from coast to coast, without breaking the “no cell phone” law, and at 0 cents per minute? FREE and UNLIMITED access to VIDEO CONFERENCES with or without a video phone, and for up to 23 people at the same time. You can have your own professional grade PBX switch at your house or work place that can route and control the cost of your private, business, fax, VoIP, audio and video conference, and also your cell phone calls from anywhere in the world, for less than the cost of a single phone? FREE VoIP calls on Internet connections as slow as dial-up that is, NOT requiring High-priced Broadband connections? Browse the net on your laptop at broadband speeds, utilizing your cell phone to connect, while at the same time speaking on the same phone, at 0 cents per minute, and with UNLIMITED data download, with no data card, no credit check, and no contract for as little as $10 a month “unlimited.

Early projections are predicting over 1 Million Distributors and 10 Million customers to come to this organization in the next 36 month. If you are considering this from an opportunity stand point, then before your head hits the pillow tonight, be sure to take a nice strong look at this organization FDI International. The opportunity, particularly for those that take action now before the future wave, has the potential to make a great deal of individuals exceedingly prosperous in the months to come.



By: Tariq Ghazi

About the Author:

Phone, internet and telecommunications services in general can be extremely expensive. Your current provider may throw on dozens of taxes, fees and surcharges to your bill, in order to make a profit off of you. They may even have you signed into a contract that requires you to pay a ridiculous amount of money if you want to switch providers before it expires. Luckily, there are companies out there who are looking to change the playing field. Telecommunications is a 4 trillion dollar a year industry, why deal with a company that is trying to rip you off when you can work with a company that wants you to make money off of your phone and other telecommunications services! FDI International is the company that you are going to want to be with.

Not only is FDI partnering with a industry leader to launch this service, but they are doing it to make telecommunications services affordable to everyone. Distributors can make money off of this great pricing as well, even though it might seem like it is impossible on the surface! There are several different payments that you can receive, based on what the customer decides that they want to buy. Right now, FDI is beginning to ramp up for their launch on August 14th, however, if you get in now you can already start marketing their services which include home phone, office phone, mobile phones and even internet! The prices are great, and in this economy, plenty of people are looking at anything they can do in order to cut their costs around their home. An unlimited amount of service on a mobile phone that is provided by will only cost about ten dollars a month.

Another great aspect of this company is that they are offering VOIP and internet access for next to nothing. In fact, their revolutionary VOIP software allows you to place VOIP calls on your existing internet connection, even if it is only a dial-up connection! Many other companies would make you think that this is impossible, and could only be done with a DSL or cable connection, but through revolutionary software, FDI is making it possible for everyone.

Yet another great part of the services that will be provided starting August 14th is the mobile phone service. Users will receive a free mobile phone that has as many features as a smart phone. In fact, the phones that users will receive will be able to do video calling. This means that you will be able to see the persons face on the other side of the phone call, so long as they have a compatible phone. This feature has never been offered before by a mobile phone company, and with the other great benefits makes these phones a hot item in the cellular phone marketplace.

Do not wait for Financial Destination Incorporation to launch their service. Join today as a user or distributor and make the changes you need to save yourself from the price gouging telecommunications companies.



By: Ryan Paulin

About the Author:

FUTURE TRENDS OF RETAIL IN INDIA

ABSTRACT

Retail is India’s largest industry, accounting for over 10 per cent of the country’s GDP and around eight per cent of the employment. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments required, break even is difficult to achieve and many of these players have not tasted success so far. However, the future is promising; the market is growing, government policies are becoming more favorable and emerging technologies are facilitating operations.

    

 FUTURE TRENDS OF RETAIL IN INDIA

R.Yuvarani*

INTRODUCTION

Indian retail sector is highly fragmented as compared to the developed as well as the other developing countries. This shows a great potential for the organized retail industry to prosper in India, as the market for the final consumption in India is very large. Retail trade is largely in the hands of private independent owners and distributor’s structure for fast moving consumer goods consisting of multiple layers such as carrying and forwarding agents, distributors, stockiest, wholesalers and retailers. Thus, the growth potential for the organized retailer is enormous. In the next 2-3 years, India will finally see operations of a number of very serious international players- net withstanding the current restrictions on FDI in retail.

The Indian retail sector is ready to take on challenges from global retail players such as Wal-mart and Carrefour because unlike them, they have a better understanding of the Indian consumer’s psyche. Ultimately, a successful retailer is one who understands his customer. The Indian customer is looking for an emotional connection, a sense of belonging. Hence, to be successful any retail outlet has to be localized. The customer should feel that it is a part of his culture, his perceived values, and does not try to impose alien values or concepts on him. Indian customer is not keen to buy something just because it is sold by an international company.

 

 

PRESENT SCENARIO

Retailing in India is witness to the boom in terms of modern retailing formats, shopping malls etc. the future of retailing for any product across the country will definitely be in malls where the consumer can get variety, quality and ambience.

However, in spite of this continuous debate to be or not to be, recently Government has allowed up to 51 percent FDI in single brand retailing by foreign companies like Reebok and Louis Vuiton. As of now, single brand retailers operate through the franchisee route and there is a strong view that FDI in this segment would not displace jobs or impact the local industry but help create employment.

Even today the government is undecided about the level FDI in retail, but a number of foreign players, including the Wal-mart stores, Inc., have announced their intention to enter India in a big way. At present Wal-mart is operating through its subsidiary in Bangalore, which was functioning as a liaison office till last year. Now it is in the process of setting up offices in New Delhi and Mumbai.

RETAILING IN THE 21ST CENTURY

Retailing in the new millennium stands as an exciting, complex and critical sector of business in most developed as well as emerging economies. Today, the retailing industry is being buffeted by a number of forces simultaneously, e.g., increasing competition within and across retailing formats, the growth of online retailing, the advent of “Radio Frequency Identification (RFID) technology, the explosion in customer-level data availability, the global expansion of major retail chains like WAL-MART and METRO Group and so on. Making sense of it all is not easy but of vital importance to retailing practitioners, analysis and policymakers.

RETAIL IN INDIA – THE FUTURE

According to a study the size of the Indian Retail market is currently estimated at    Rs.704 crores, which accounts for a meager 3% of the total retail market. As the market becomes more and more organized the Indian retail industry will gain greater worth. The Retail sector in the small towns and cities will increase by 50% to 60% pertaining to easy and inexpensive availability of land and demand among consumers.

Growth in India Real estate sector is also complementing the Retail sector and thus it becomes a strong feature for the future trend. Over a period of next 4 years there will be a retail space demand of 40 million sq. ft. However with growing real estate sector space constraint will not be there to meet this demand. The growth in the retail sector is also caused by the development of retail specific properties like malls and multiplexes.

According to a report, from the year 2003 to 2008 the retail sales are growing at a rate of 8.3% per annum. With this the organized retail which currently has only 3% of the total market share will acquire 15%-20% of the market share by the year 2010.

Factors that are playing a role in fuelling the bright future of the Indian Retail are as follows:

The income of an average Indian is increasing and thus there is a proportional increase in the purchasing power. The infrastructure is improving greatly in all regions is benefiting the market. Indian economy and its policies are also becoming more and more liberal making way for a wide range of companies to enter Indian market. Indian population has learnt to become a good consumer and all national and international brands are benefiting with this new awareness. Another great factor is the internet revolution, which is allowing foreign brands to understand Indian consumers and influence them before entering the market. Due to the reach of media in the remotest of the markets, consumers are now aware of the global products and it helps brands to build themselves faster in a new region

However despite these factors contributing to the growth of Indian retail Industry, there are a few challenges that the industry faces which need to be dealt with in order to realize the complete scope of growth in Indian market.

Foreign direct investment is not allowed in retail sector, which can be a concern for many brands. But Franchise agreements circumvent this problem. Along with this regulation, local laws, and real estate purchase restrictions bring up challenges. Other than this lack of integrated supply chain, management, and lack of trained workforce and flux of the market in terms of price and product choice also need to be eliminated.

The Indian Retail Street is set to glow brighter with India recapturing its position as the most attractive destination for global retailers, despite the global slump. According to the Global Retail Development Index (GRDI) released by US-based global management consulting firm, A T Kearney, India has emerged as best country amongst 30 emerging markets. This reinforces the fact that trade with India is a golden opportunity to be capitalized upon. Interestingly, Russia clinched the second position, while China settled for the third spot. The report also stated that India has become the most attractive destination for retail investment for the fourth time in five years.

Currently India has one of the largest numbers of retail outlets in the world. According to a report by images Retail estimates the number of operational malls will grow more than two-fold, i.e., it will cross 412, with 205 million square feet getting covered by 2010. Nearly 715 malls will be added by 2015, with major retail developments in tier-II and tier-III cities fuelling further growth.

Many global retailers have given thumps up to trade with India.

The future ahead Industry experts see the rise of the rural sector in the coming years. Currently, rural market comprises nearly half of the domestic retail market of India, i.e., US$ 300 billion. The per capital income of the rural India has reportedly grown by 50 percent over the last 10 years, mainly because of the rising commodity prices and better productivity. According to E&Y India, basic infrastructure, generation of employment guarantee schemes, better information services and access to funding are ushering in good times for the rural households.

• As per the new market research report by RNCOS, organized retail market is expected to reach US$ 50 billion by 2011

• The boom in the retail market will fuel the growth of the logistic market. It is estimated the market will reach around US$20 billion by 2011.

• Retailing of mobile handset and accessories is estimated to reach close to US$990 million by 2010.

• Rural market is estimated to lead the Indian retail industry landscape in the future.

• Shopping malls are expected to increase at a CAGR of more than 18.9 per cent from 2007 to 2015.

INDIAN RETAIL LANDSCAPE

Raising income and increase consumerism are fueling retail growth.

Year

$ billion retail growth

1998

201

2000

204

2002

238

2004

278

2006*

321

2008*

368

2010*

421

*Estimates

Sources: Retail in India-A CII-AT Kearney report

According to NCEAR forecasts, the number of ‘rich’ households (the target market for modern retail stores) is expected to more than double from 57 million in 2002 to 107 million by 2010. The proportion of India’s population, that is less than 25 years of age stands at more than 50 percent currently while more than 80 percent of the population is below the age of 45 years. This ‘young population’ segment is driving the changes in consumption habits and spending patterns. An increasing proportion of the young population is joining the work force, and adding to overall spending, which should bode well for the growth of modern retail formats in India. Growing urbanization (malls are likely to be concentrated in urban areas) is also fuelling modern retail format growth. It is expected that India’s urban population will grow from 21 percent of the overall population in 2000 to 32 percent by 2010.

CHANGE ACCELERATORS

The following factors will be significant in driving growth in the retail sector:

Consumer factors

 

Supply side factors

 

Consumer factors

¨      Increase in income

¨      Working women

¨      Changes in lifestyle demand for ‘global’ trend

Supply side factors

¨      Growing importance of retailing in political and economic agenda.

¨      Real estate reforms to be undertaken in the next 24 months.

¨      Major restructuring of the manufacturing sector easing product supply constraints for efficient retailing.

¨      Reduction in import duties- offering more global sourcing options.

COMPETITION FOR FUTURE MARKET LEADER

India’s organized retail, although less than Rs 45,000 crore in size, already boasts of several players different formats and categories. The big players are Future Group (Big Bazzar and Pantaloon) of Kishore Biyani, Tata Group (it runs departmental stores under Westsite, a books and music chain called Landmark, hypermarket star India bazaar, and a customer durables Chain christened Crima, in a tie up with UK’s Woolworths),Sanjiv Goneka,s RPG Group (Food World and Spencer’s), and Dubai-based Micky Jagtiani’s Land mark group (life style). That apart, there are several smaller players, including Subhiksha, Trinetra, and Nilgiri’s. Most recently, the Kumar Mangalam Birla-led AV Birla Group has announced plans of entering retail.

 CONCLUSION

The retail sector has played a phenomenal role throughout the world in increasing productivity of consumer goods and services. It is also the second largest industry in US in terms of numbers of employees and establishments. There is no denying the fact that most of the developed economies are very much relying on their retail sector as a locomotive of growth. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even with other companies and compete with them. The India Retail Industry is gradually inching its way towards becoming the next boom industry. Favorable government policies and continued growth will mean that the future belongs to the most aggressive players. The future is now.

 

 



By: R.Yuvarani

About the Author:

Liberalisation Of Trade an assessment of  Implications for Develoment in Pakistan.

*Nadeem Malik, lecturer and Supervisor *Dr Shafiqur Rehman

INTRODUCTION

Uruguay Round (UR) of trade Pakistan became member of the World Trade Organisation (WTO) as a result of the negotiations (1986-94) to elicit gains from implementation of the new regime of multilateral trade liberalisation like other countries, under the ambit of the WTO. However, as is the case for many other developing countries, the WTO implementation process also involves significant challenges for the socio-economic development of Pakistan, due to the overall lack of technical capacity and the prevalent lower level of economic development in such countries.

Recent economic research1 provides compelling evidence that trade liberalisation is associated with increased growth and development, evidenced by the unprecedented global growth since the 1970s. However, the evidence of positive relationship between trade liberalisation and economic growth is not as convincing in the case of a majority of developing countries as it is in the case of developed countries. Pakistan’s economic and trade liberalisation during the 1990s, though initiated largely under the IMF pressure, has not been fruitful in improving its social and economic development; almost all socio-economic indicators were reversed by the end of the 1990s. This particular aspect further exacerbates the WTO’s implementation-related challenges for Pakistan, as its obligations include not only a further reduction of trade barriers, but also to implement significant reforms both in trade procedures and in many regulatory areas.

The implementation of these agreements involves significant financial costs, raising the question of the future productivity of these expenses and opportunity costs. In addition to the financial cost, the social cost of the implementation in the form of rising unemployment is there (although the impact cannot be calculated precisely in various sectors at this initial stage). This is especially so as the implementation of WTO agreements would not only affect trade-related sectors of the economy but would have indirect effects on non-trade sectors of the economy.

Using the results of country’s liberalisation reforms of 1990s as the background, this paper intends to focus upon the possible future impact on socio-economic development in Pakistan, with the implementation of the WTO provisions. For the purpose of analysis, the economy has been divided into three major categories i.e. agriculture, industry and services on the basis of their share in the GDP of Pakistan. However, due to space constraints the study will be restricted to the agriculture and manufacturing sectors. In doing so an attempt will be made to address the following questions:

1. Based on the projections from the existing literature, what current linkages emerge between trade liberalisation and economic development in relation to the WTO’s implementation and what are the consequent gains/losses for developing countries?

2. Do the WTO agreements correctly diagnose the development problems and prescribe appropriate remedies?

3. What are the costs/gains associated in terms of socio-economic development of the country, with the implementation of the WTO agreements?

4. Does the implementation of the WTO agreements imply that Pakistan would be able to increase its share in foreign markets and thereby transfer the stated welfare and developmental benefits/gains to the various sectors within its economy?

Trade Liberalisation and Development Gains

Existing literature review on trade liberalisation, particularly on the aspect of reduction of tariffs and the elimination of non-tariff measures (NTMs) suggests enormous global welfare gains, though the estimates under various models are controversial.2 According to the EU estimates, the annual welfare gains for the world as a whole from multilateral liberalisation in agriculture, industrial products and services alone could range from around $150 billion to $370 billion, with an estimated accrual of $220 billion to developing countries.3 Similarly, World Bank studies have also estimated medium-term welfare gains from liberalising all trade, as between $250 billion to $550 billion; one-third to two-third of these gains would accrue to the developing countries.4 However, these estimates are seen with a great deal of scepticism by many analysts from the developing countries. In the words of Luis Fernando Jaramillo, former Chairman of the Group of 77, ‘70% of the additional income to be generated by the implementation of the Uruguay Round will be appropriated by the industrialised countries, which make up only 20% of the membership of GATT.’5 In other words, the developing countries with more than a two-third majority in the WTO would have only 30% of the additional income to share among themselves, and they were the countries conceding the most during the Uruguay Round negotiations. The former Chairman’s statement also alludes to the way developed countries are implementing WTO agreements in sectors like agriculture, textiles and intellectual property. For instance, in the case of agriculture, production subsidies in developed countries depress international prices thus reducing the export revenues for developing countries. In the post UR period, as a result of trade liberalisation in the agriculture sector, out of the total welfare gains of $122 billion only $11.6 billion will go to the developing countries, which comprise two-third of the WTO members, while $110 billion would go to the developed countries themselves.6 In the case of textiles, according to the same statements, if quotas are fully eliminated the estimated welfare effects on developing countries would range between $13-$22 billions.7 These estimated gains would be accrued only if the Agreement on Textiles and Clothing (ATC) is implemented in its true spirit by 2004. However, most of these models do not take into account the level of economic development of the developing countries and therefore do not represent true estimates for these countries. Hence, market access has emerged as a major concern for developing countries including Pakistan.

An Overview of Pakistan’s Socio-economic Development Indicators During the 1990s

During the 1990s, Pakistan opted for economic liberalisation, not as a policy generated indigenously but largely as an obligation under the conditionalities imposed by the IMF and the World Bank through their Structural Adjustment Programme.8 Presently, Pakistan’s trade and investment regimes are fairly liberal due to the continuous liberalisation process the country undertook during the 1990s. However, socio-economic development indicators for the decade of 1990s do not show corresponding gains to the liberalisation process.(see Table-I). Until the 1980s, Pakistan’s economic growth rate was fairly good (6% average annual GDP growth rate) although the benefits of that growth were not transferred to the social sectors of the economy.9 However, during the 1990s, following economic liberalisation, not only have the social indicators declined further but economic growth has also been sluggish owing to various macroeconomic factors. Since 1994-95, there have been no major changes in the composition of Pakistan’s GDP and employment; the economy continues to be dominated by services and agriculture. The share of the manufacturing,10 construction, and wholesale and retail trade services in Pakistan’s GDP have declined steadily. The share of agriculture, livestock, fisheries, and forestry (single largest employer) in total employment has followed an upward trend, while that of other sectors has remained stable or declined. Since 1995, the unemployment rate has risen from 5.4% to 7.8% (2002).

The slowdown in economic growth and consequent rise in unemployment together with a relatively high population growth have contributed to a marked increase in the incidence of poverty in Pakistan, particularly in the second half of the 1990s.11 The incidence of poverty, which had decreased to 18% during the 1980s in Pakistan, has reversed and rose upto 28% (1999), per capita income has decreased from $510 in 1995 to $426 in 2001.12 The proportion of the population below the poverty line has risen from 20% a decade ago to 30%, with the majority of the poor (about 70%-80% of poor households) living in rural areas. About two fifths of the population is without access to safe drinking water and more than half has no access to sanitation. Literacy has remained low (compared with elsewhere in the region and low-income countries world-wide) and gender disparities in education are significant. Health indicators, however, have been improving slowly. Development expenditures have decreased. A Social Action Programme (SAP) initiated in 1992, with the financial support of the World Bank and other donors, with a view to expanding and improving the country’s very weak social services (in elementary education, primary health, welfare, and rural water supply and sanitation) and creating employment has also been closed in 2002, due to its lack lustre performance. A comparison of the socio-economic indicators during 1990s with those in 1980s is given in the Table-I.

Table-I: Selected Socio-economic Indicators for Pakistan

Sectors 1980s 1991 1996 2000

GDP Growth rate % 6.5 7.6 6.6 2.1

Exports of Goods and Services % n.a 21.19 14.9 17.5

Imports of Goods and Services % n.a 34.3 25.4 19.1

Unemployment rate % 1.35 5.85 6.12 6.0

Life Expectancy rate % n.a n.a n.a 63

Poverty head count % n.a 22.11 21.8 28.2*

Infant mortality rate/1000 121 85 85 83.3

Development Expenditure

% of GDP 7.3 7.6 3.5 2.2

*. Data available for 1998-99. Source: Economic Survey, 2002

Pakistan’s economic liberalisation of the 1990s was not done under the WTO obligations, but largely as a part of the Structural Adjustment Programme of the IMF. However, the way liberalisation was carried out could not lead to a successful outcome. One of the criticisms of the reforms is that the process of liberalisation was done only partially due to the lack of required institutional infrastructure.13 So far Pakistan’s trade has not been much affected by the WTO agreements as the country has just initiated the process of implementation of these agreements. However, given its current weak development indicators, there are concerns that Pakistan will continue to face serious challenges for its socio-economic development in the future, as it moves towards integrating WTO laws into its economy. It is worth mentioning that the WTO is an ongoing process and many new issues have been included after the Uruguay Round. In the future, developing countries would be facing increased obligations under the new rounds of trade negotiations. This was one of the reasons behind the developing countries’ lack of interest in launching the new round of trade negotiations at Doha and their insistence to see the results from the UR implementation.

In order to evaluate the future impact of the WTO on Pakistan’s socio-economic development the study now focuses upon the following two categories as the broader framework:

a. Implementation of WTO agreements in other countries –Market Access Issues

b. Domestic Implementation of the WTO

1. Market Access Issues

While the WTO has been successful in reducing the overall level of tariffs with increased transparency and greater market access, the majority of the developing countries, with the capacity to increase exports of labour-intensive manufactures, continue to face significant barriers in accessing foreign markets. According to the UNCTAD 2002 Report on Trade and Development, a comparison of the simple MFN tariff rates on manufactured imports, as a group applied in selected sectors, confirms that developed countries apply higher import tariffs to traditional labour-intensive manufactures than to other products. Table-II shows that the tariff rates applied in the developed countries for textiles and clothing and leather are much higher than those of computers and telecom audios, thus indicating a clear discrimination against developing countries exports. This discrimination is further envisaged within the labour intensive products where tariffs are higher for textiles and footwear – two of the main exports of Pakistan. This particular factor does increase future market access challenges for Pakistan’s textile exports, comprising 70% of Pakistan’s total exports.

Table-II Simple MFN Average Tariffs of Selected Economies

Countries Manufactures Textiles Clothing Leather and travel goods Footwear Computers Telecom Audio and Video

Australia 5.4 9.9 20.7 4.7 11.1 0.3 2.6

US 4.0 9.1 11.4 5.0 13.4 0.4 1.6

Japan 2.9 6.5 11.1 10.2 19.2 0.0 0.0

Canada 4.9 10.7 18.4 4.2 16.3 0.2 1.5

EU 4.4 7.9 11.4 3.3 12.4 0.8 4.1

Source: UNCTAD Trade and Development Report, 2002.

Tariff Peaks, tariff escalation, tariff rate quotas and other non-tariff measures (NTMs) allowed under the WTO have become major impediments to market access for developing countries exports.

• Tariff Peaks

Tariff peaks are often imposed on products of developing countries covering mainly labour intensive products: textiles, clothing, leather products, rubber, footwear (Japan) and agriculture products (EU). Clothing and footwear represent more than 60% of the industrial countries’ tariff peaks affecting the exports from developing countries. Due to greater share of labour intensive products in Pakistan’s exports, especially textiles, it is likely that tariff peaks would affect Pakistan’s textile exports in the future.

• Tariff Escalation

Tariff escalation – the increase in import tariff corresponding to their value addition – is one of the major impediments to the exports of developing countries. For Pakistan, it implies that, in case the country shifts the composition of its textile exports from cotton yarn to clothing, or ready made garments, it is going to face higher tariffs on these products in its major markets. So what is the guarantee that Pakistan’s value-added textile exports would be able to capture markets? If these products fail to access the targeted markets it means that Pakistan would continue to be the exporter of primary commodities such as raw cotton, which are often subject to volatile prices. Overall data from the last decade reveals that Pakistan has been able to significantly shift the composition of its exports from primary commodities to finished goods.14 However, as suggested by the data in Table-III, in the case of the textile sector Pakistan has been unable to move to the upper rung of the ladder of value addition. On the other hand, in the case of Bangladesh, India and China there is a great deal of value addition to their textile exports, thereby posing the threat of Pakistan’s loss of market share to these countries, once quotas are removed and Agreement on Textile and Clothing is fully implemented by 2004. Between 1998-2001, Bangladesh and China have achieved 34 % and 36% value addition in their clothing sector respectively, while Pakistan has been able to increase value addition by only 18%.

Table-III Export Quantity of Textile Sector in Pakistan 1990-2001

YEAR Cotton cloth m.sq.m Cotton Thread mkg. Yarn m.kg Raw Cotton

000 mt.

1990 1056.5 0.9 501 282

1996 1257.4 0.4 508 221

1998 1355.2 0.3 421 2

2000-01 1735.8 0.2 513 135

Source: Economic Survey, Government of Pakistan, 2001-02.

Although Pakistan has made a modest progress during the 1998-02 period in its textile sector, a major source of concern is that this increase has only been in volume and not in terms of value due to falling international prices.

• Tariff Rate Quotas (TRQs)

Tariff Rate Quotas (TRQs) allow a certain quantity of imports to enter under low tariffs and above that high tariffs are applied. Under the Uruguay Round Agreement on Agriculture, the tariffication process i.e. converting non-tariff measures into tariffs was carried out by the developed countries in such a way that it increased the level of actual tariffs on their agriculture imports. Hence it became difficult to trade in certain agriculture products, therefore tariff rate quotas were allowed as a way out for market access for certain countries. So far, 37 countries use TRQs and most of the tariffs are concentrated in few products including vegetables, meat cereals, oilseeds, and dairy products. (Table-IV). Products like fruits and vegetables, tobacco and oil seeds are not only some of the few major exports of Pakistan, but also of potential future interest to Pakistan. Especially the vegetables and fruits where Pakistan can expand its exports, have been subject to tariff rate quotas. The difference between tariffs within quotas and tariffs above quotas is significantly large. For example in OECD countries with TRQs, the TRQ in-quota rates on agriculture products average 36% while out-of-quota rates average 120%.15 Although, the tariffication process has improved transparency in market access conditions, many studies have concluded that the URAA will not result in a significant reduction in agricultural protection due to the conversion of quotas into high tariffs and TRQs.16

Table-IV Tariff Quotas Distribution by Product Category

Product Group Cereals Oil seeds Sugar Dairy Meat Eggs Beverage

Number of TQs 217 124 51 181 247 21 35

Product Group Beverage Fruits and vegetable Tobacco Fibres Coffee

Number of TQs 35 358 13 18 56

Source: www.wto.org.

• Anti-dumping, Countervailing Duties and Safeguard Measures

Trade remedies permitted under the WTO agreements include antidumping measures- against dumping of cheaper imports; countervailing duties – against actionable subsidies; and safeguard measures – to protect against serious injury from import surges. These protective measures can be challenging obstacles to market access in particular products. During 1995-99, over out of a total 1200 antidumping cases, 75% cases were initiated by developed countries and 49% of the latter were targeted against developing countries.17 Thus developing countries are the major object of anti-dumping duties. Pakistan’s textile exports have recently been subject to various anti-dumping investigations, or facing duties, thus restricting market access (see Table-V). Pakistan’s cotton yarn exports also faced the US ‘Transitional Safeguard Action’ for three years (1997-2001), irrespective of the fact that the action was not consistent with the WTO agreement on Textile and Clothing. However, by the time the decision was made by the WTO Appellate Body, the time for safeguard action had lapsed, but it caused a serious financial damage to Pakistan’s cotton exports.18

Table-V Anti-Dumping Cases/ Duties Facing Pakistan

Product Country Initiating Year

Bed Linen South Africa 1999

Cotton Yarn Japan 2000

Cotton Shop Towel US 2000

Cotton Bed Linen, Cotton Fabrics, Unbleached Cotton Fabrics EU 2000

Cotton Shop Towels US 1999

Source: Trade Policy Review of Pakistan 2001, WT/TPR/95 at www.wto.org

• Product and Environmental Standards

Product standards under Technical Barriers to Trade (TBT) and Sanitary and Phytosanitary measures (SPS) are also a source of concern for developing countries, which lack the capacity to meet the increasingly complex health and technical standards.19 TBT relates to all products and measures, while the SPS covers sanitary standards for food and phytosanitary standards for animals and plants. In maintaining these standards, both fixed (product redesign and administrative system) and variable costs (of maintaining quality control, testing certification and conformity assessments) are involved. In addition, revision to standards can have important implications for exporters. For example, World Bank estimates that due to the EU’s new standards for level of aflatoxin can reduce African exports of cereal dried fruits and nuts to Europe by 64%.20 Pakistan, along with Malaysia, India and Thailand lost the famous ‘Shrimp Turtle case’ when the WTO Panel upheld the US prohibition of shrimp turtle imports from these countries on the basis of environmental standards, as conforming to the WTO laws.21 On the other hand, the US itself is not ready to conform to the global environmental standards and has pulled out of Kyoto Protocol. In future there is the likelihood of increased number of cases involving standards. By the end of 2000, out of 27 disputes considered by the WTO with reference to TBT and SPS, only 6 were brought by the developing countries and no low-income countries other than India brought such cases to the WTO. Hence, for Pakistan, it will remain a distant idea to benefit from these standards, unless the required technical and scientific expertise is developed within the country.

Overall, the above-mentioned tariff and non-tariff measures being used as tools of market access denial to the developing countries’ exports indicate that realising the stated benefits and opportunities under the WTO is a challenging task. A careful analysis of the foreign markets and trade policies, especially of export destination countries, as well as the WTO rules and regulation is urgently required. Market access for developing countries was on the agenda of the Doha Round negotiations. It is the right time for the developing countries to pursue it collectively. Environmental and product standards, while restricting market access for the exports of the developing countries, if adhered to, however, are also a source of penetrating developed countries’ markets. While legal protections and safeguards are allowed under the ambit of the WTO, Pakistan has promulgated the contingent regulations such as anti-dumping rules, countervailing rules and safeguard regulations. However, Pakistan requires technical and scientific expertise to use and benefit from those measures and protect its own domestic market.

2. Domestic Implementation Issues

Domestically, the implementation of the WTO agreements goes far beyond trade-related policy, especially when it comes to the supporting legal and regulatory environment. This is where the cost of implementation matters. Pakistan’s trade and investment regime is fairly liberal. The average import tariffs declined to just over 20% in 2001-02 which is less than half its levels during the mid-1990s.22 Under its 1997 foreign investment policy, Pakistan has fully opened most sectors of its economy to foreign direct investment (FDI), thus allowing 100% foreign ownership except for certain activities that are subject to specific conditions. From November 1997, Pakistan has provided national treatment to foreign companies under its WTO obligations with respect to incentives such as duty and tax exemptions and other import concessions.23 Developing countries incur substantial problems from reducing their trade barriers. According to the World Developing Indicators 2001, a comparison of developed and developing countries for 1990s, show that in many developing countries, tariff revenue accounts for 10-20% of government revenue, and in some cases considerably more. In the case of India and Pakistan, tariffs make 21% and 17% of total revenues, respectively, whereas in developed countries this share ranges between 0-1%.24 If tariffs are reduced or eliminated in developing countries, they are bound to lose a reasonable share of their revenues.

A liberal trade regime is considered as one that removes domestic market distortions through increased competition and reallocation of resources. However, this whole process involves structural adjustments in the economy, in themselves having socio-economic implications, which has become a major concern of the developing country members of the WTO. Once tariffs are reduced under the WTO regime, it will lead to the inflow of cheaper products. Products in countries like Pakistan, with higher costs of unit production in agriculture and industrial sectors will not be able to compete with the cheaper imports. This effect would be further aggravated with the expected increase in water, electricity and gas prices committed to with the IMF under the present Poverty Reduction Growth Facility (PRGF) reforms.25 The price incompetitiveness would, in the near term, inevitably lead to the closure of the industries in manufacturing sector, while agriculture producers will not be able to meet the cost of production for the same reason.

In fact, for countries like Pakistan, there is a major concern of becoming dumping grounds for over-produced, subsidized agriculture produce of the developed countries. These market distorting tactics can be a big blow to the agriculture sector in Pakistan, which accounts for 25% of the GDP and 47% of total employment, in addition to being the major source of raw material for its manufacturing sector as well. Table-VI shows the agriculture sector’s contributions to the GDP and its share in total employment. The ultimate outcome will be an overall lowering in the levels of production, and displacement of labour force through unemployment in the affected sectors of the economy. Given the large share of the household expenditures dedicated to food, even small rises in agricultural unemployment or prices can have major destabilizing effects in the overall socio-economic regime.

Table-VI Pakistan: Sect oral Share (%age)

in GDP, Exports and Employment

Sectors 1991 1996 2000

-Agriculture share in GDP 25.8 25.7 24.1

Employment 47.4 46.8 47.3

-Manufacturing share in GDP 17.4 16.6 15.7

Employment 12.3 10.1 11.2

-Services share in GDP 48.7 49.5 50.9

Employment 42.7 42.6

Source: Economic Survey, 2001-02; WTT/TPR/95.

In Pakistan, unemployment has been a rising phenomenon during the 1990s (7.8% in 2002), but there is no major evidence to show that this has been a direct consequence of the economic liberalisation programme of 1990s. However, according to the Human Development Report in South Asia 2001, the liberalisation programme was not even aimed at employment generation.26 Economic liberalisation without catering for employment opportunities for displaced labour, is a factor that itself explains rising levels of unemployment during 1990s. It was generally expected that higher growth would generate employment expansion and poverty reduction, which could not yield the desired outcome, thereby increasing the incidence of poverty, during the 1990s.

Generally, economic models assume this process as a short-term phenomenon and it is expected that eventually these resources will be re-employed in some other sector of the economy thus bringing overall gains for the economy. However, actually, displaced workers may not necessarily be re-employed for a significant period of time. This situation is further aggravated in the case of Pakistan where the development expenditure is very low and social safety nets are almost negligible (see Table-1). Although under the PRGF Programme, the Musharraf government initiated the Khushhal Pakistan Programme and National Food Support Programme however, these efforts are at a very preliminary stage, and even if implemented properly will take some time to deliver the desired results.27

Economic liberalisation attaches great importance to the role of foreign direct investment, especially in generating new employment opportunities thereby acting as a factor canceling the unemployment effect. In the case of Pakistan, foreign direct investment has also been on the decline since 1995-96, despite liberal economic policies pursued by various governments.28 The level of FDI is specifically very low in the agriculture sector as compared to other sectors of the economy and is concentrated mostly in oil and gas and power sectors.29 It is also a reflection of the continued biased policies of various governments in favor of the manufacturing sector, although, the manufacturing sector especially large-scale manufacturing, has also been the victim of the FDI drainage due to overall reduction in FDI into Pakistan, during the mid-90s.30

There are many factors contributing towards the creation of an environment that is not conducive for attracting higher FDI in Pakistan. These factors include: weak property rights, lack of continuity in policies and lack of credibility of various governments in honoring international agreements and, above all, weak politico-security situation within the country and in its relations with India. If all other irritants are removed the security factor remains the most hindering factor in attracting FDI into Pakistan. In that case, amongst the regional countries, China would benefit the most and with its recent reform programme it will continue to be the most attractive place for FDI.

The implementation of the WTO agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) brings many challenges for various sectors of the economy and consequently socio-economic development of the country. In the case of Pakistan, so far no study has been conducted to estimate the cost of implementation of an IPR regime in Pakistan i.e. the establishment of new institutions, administrative and enforcement costs. Nonetheless, World Bank estimates for selected developing countries and overall estimates for developing countries suggest exuberant costs attached to the establishment of an IPR regime.31 However, views from the official sources in Pakistan indicate that the country already had an IPR regime and three ministries were handling the issue, namely Commerce, Education and Industries, which is in the process of being merged into one authority, called the Pakistan Intellectual Property Rights Authority (PIPRA).32 So, if these views are taken into account, initial fixed costs on institutional arrangements would not be much of expenditure in Pakistan. However, estimating the variable costs related to additional workforce, enforcement of IPR laws, training of police and custom officers would be little premature, as the country has just started the process of implementation of IPR laws. Also, the costs are wide-ranging and scattered in various sectors of the economy. Hence, it is not possible to see the exact impact of IPR regime related cost in connection with the concerns that it would squeeze development funds of the country.

In addition to institutional costs, there are socio-economic costs attached to an IPR regime. The creation of a Patent regime in Pakistan implies that foreign pharmaceutical multinationals can sell their patented products in the country at a desired price, which is going to increase the cost of those medicines in the country, or else the local firms have to get patents for those products and pay royalty to big multinationals. According to the World Bank, this will lead to the transfer of billions of dollars from developing countries to high income-countries in the form of royalties and licensing fees.33 It further indicates that the cost of TRIPs to developing countries is likely to be comparable to any gains they might receive from trade liberalisation.34 In addition, to avoid uncompetitive practices on the part of multinationals, the enforcement of a strict competition regime is a necessary step. In fact, without a sound and strong competition policy, the establishment of an IPR regime is meaningless. Pakistan has been widely blamed by the US and the EU for piracy and weak copyright implementation in the field of entertainment and computers, thereby incurring losses to copyright industries in these countries.35 With the enforcement of IPR rules, the prices for computers will certainly shoot up many times thus extremely restricting the fast-spreading use of computers and internet in Pakistan. With the inclusion of electronic data within the scope of TRIPs, the spill-over effects of the internet in the field of education – a crucial aspect in its human development- will also wane. The purchasing power in Pakistan is too little to pay for highly expensive books, or cover the internet charges.

The patent regime has severe implications for farmers in the developing countries. Under the patent laws, new plant varieties are protected and farmers in the developing countries like Pakistan, which traditionally used to reuse the produce for sowing purposes will be unable to do that. In fact, under the new technologies, the seed if reused, will not give the same quantity of crop, hence putting financial strain on the poor farmers who lack access to financial credit. This very factor implies the development of an indigenous R&D in Pakistan, and further allocation of funds in the national budget for this purpose.

During the Uruguay Round, Pakistan and other developing countries reluctantly adhered to the TRIPs agreement, with the lures of transfer of technology and technical assistance from the developed countries. While both these commitments were non-binding, there is no such international framework ensuring the transfer of technology or technical assistance to the developing countries. In fact TRIPs has strengthened the protection to the suppliers of technology. So, do the gains from TRIPs outweigh the costs in developing countries? Although, Pakistan is benefiting from the technical assistance and capacity-building programmes of the WTO and World Intellectual Property Organisation (WIPO), but a very little and insufficient technical assistance is actually available.

Strong IPRs are considered as one of the incentives for foreign direct investment and technology transfer. But stronger IPRs in developing countries may not necessarily decrease the technology gap between North and South. Once a product is patented and multinationals are getting royalties they might not be interested in investing overseas under uncertain political and security environment for example, as in Pakistan.36

Conclusion

The importance and benefits of economic liberalisation cannot be contested for the developing economies like Pakistan. However, focusing exclusively on one area while neglecting other aspects of human and social development can be very dangerous. As research has proven that it is social and human development that makes a strong basis for sustainable economic development. This is where Pakistan needs to pay attention. Trade liberalisation under the WTO regime is Pakistan’s obligation, but at the same time it should be complied to in a manner with least implications for the social sectors of the economy. For the Doha Round of trade negotiations, it is suggested that any future binding commitments by the Government of Pakistan must be made in consultation with the relevant industry and business sectors. Pakistan should not liberalise more than what is required. Any move towards liberalisation should be carefully measured in terms of its prospective costs and benefits.

References

*.

*. Mr Nadeem Malik, lecturer, Commerce department, University of Balochistan Quetta, Pakistan.

Supervisor Dr Shafiqur Rehman, Registrar, University of Balochistan Quetta

Pakistan.

1. ‘World Development Report’, Washington D.C.: World Bank, various issues, ‘Trade and Development Report 2002’, New York: UN Publications, 1996-2001.

2. Bernard Hoekman, ed. ‘A Hand Book on Development Trade and WTO’, Washington DC: World Bank, at www.worldbank.org. pp.1-10.

3. www.eudelbangladesh.ord/trade.htm

4. ‘Market Access for Developing Countries’ Exports’, IMF and World Bank Staff Paper, April 27, 2001, at www.worldbank.org p.45.

5. ‘Trading into Future: An Introduction to the WTO’ at www.wto.org

6. ‘Market Access for Developing Countries’ Exports’, p.46. op.cit.

7. Ibid., p. 47.

8. Shahid Kardar, Political Economy of Pakistan, Lahore: Progressive Publishers, 1997.

9. Dr. Ishrat Hussain, ‘Pakistan: Economy of An Elitist State’, Karachi: Oxford University Press, 1999; William Easterly, ‘The Political Economy of Growth Without Development: A Case Study of Pakistan’, Development Research Group, World Bank, March 2001, at www.worldbank.org

10. Although the decline of the manufacturing sector was, inter alia, due to the adverse impact of economic sanctions and resultant foreign currency crisis that led to drastic reduction in domestic and foreign investment and a contraction of imports. Mark Weisbort and Dean Baker,‘Relative Impact of Trade on Developing Countries’, Centre for Economic Policy Research Briefing Paper, Washington D.C, at www.cepr.net

11. ‘Economic Survey’, 2000-01, Government of Pakistan.

12. ‘Pakistan Development Policy Review: A New Dawn’, World Bank Report no.23916-PAK, April 3, 2002.

13. Ibid.

14. ‘Economic Survey’p.119, Op.cit.

15. UNCTAD Report on, ’Trade and Development, 2002,Now York: UN Publications, p.60.

16. OECD Report on ‘Market Access for Developing Countries, 2001, at www.oecd.org

17. ‘ Market Access for Developing Countries’ Exports’, World Bank IMF Joint Staff Paper, April 27, 2001, at www.worldbank.org

18. Appellate Body Decision on’ US Transitional Safeguard Measures on Combed Cotton Yarn from Pakistan’, WTO Document no. WT/DS192/7, 7 November 2001, at www.wto.org

19. Under SPS measures, imports can be prohibited to protect animal and plant health, on the basis of scientific evidence.

20. ‘Market Access for Developing Countries’ Exports’, World Bank IMF Joint Staff Paper, April 27, 2001, at www.worldbank.org

21. ‘WTO Appellate Body Decision’, Document No. WT/DS58/AB/RW, 22 October 2001.

22. ‘Pakistan Development Policy Review’, op.cit.

23. ‘Trade Policy Review Pakistan 2001’, WTO Document no. WT/TPR/S/95, p. 22, at www.wto.org

24. ‘World Development Indicators’, World Bank, 2001.

25. Under the PRGF reform programme the Government of Pakistan is bound to increase the electricity prices twice a year, Interim Poverty Reduction Strategy Paper (PRSP) 2001, at www.finance.gov.pk

26. ‘Globalization and Human Development’, Human Development Report on South Asia Mahbub ul Haq Human Development Centre, , 2001, pp.74-78.

27. ‘Economic Survey 2001-02’, Finance Division, Government of Pakistan, pp.55-57.

28. Ibid.

29. Ibid., p.41.

30. ‘Pakistan Development Policy Review’, op.cit.

31. ‘A Hand Book on Development Trade and WTO’, op.cit., pp.1-10.

32. Personal discussion on various WTO agreements with officials in the WTO Wing, Ministry of Commerce, Islamabad.

33. ‘World Economic Prospects 2000’, Washington DC: World Bank, p.94.

34. Jayashree Watal, ‘Implementing the TRIPS Agreement’ in A Hand Book on Development Trade and WTO, World Bank publication, 2002, p. 366-370.

35. The EU and US review the copyright enforcement of their trading partners and Pakistan is on the special watch list of the US under special 301 Act.

36. Ibid. p.366.



By: NADEEM MALIK

About the Author:

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Twilight Christmas gifts are set to be huge this holiday season. With The Twilight Saga: New Moon pre-sales already outnumbering the pre-sales from the original Twilight movie 4:1, New Moon merchandise is expected to be hot. If you have a Twilight fan on your holiday shopping list, there is a lot to choose from, but you may be wondering what the best selling and most popular gifts are. If you are thinking, “I do not follow Twilight or the New Moon, but I want to buy a great gift”, you are in the right place. The best selling items have been researched and listed here for you.

Spice has ventured into the Indian Mobile Handset Market with Dual Sim Phones, which make it convenient for consumers to carry two phone numbers in one handset. They have Dual Sim Phones covering two GSM networks, or two CDMA networks or one GSM and the other CDMA network. Spice Mobile Phones has launched D-80, D-88, D-90, Spice D-88 are handsets with dual sim while D-80 and D-90 support only GSM network. The D-88 supports both GSM and CDMA networks; D-90 is a smart phone by Spice Mobiles loaded with multimedia features.

You don’t have to be the CEO of Goldman Sachs to know that a good businessman can back up his financial models only if his persona fits his appearances. If you want to get ahead of the game, remember three important things…Power Suit, Power Tie, Power stare. Today we’ll be focusing on the Neck Tie – essential to any formal or semi formal event. Whether you’re just starting out in the industry or wooing your father in law at fancy restaurant venue, the Neck Tie is essential for exuding a good impression onto others

Affordable Christmas gifts are going to be very high on the agenda this year for everyone. We are still in the grips of the credit crunch and for many people money is tight which means Christmas will need to be carefully planned. Parents and grandparents often have the dilemma of trying to satisfy the demands of their kids with in vogue presents that they will be proud to show off to their friends, yes I am afraid peer pressure is still alive and well despite the credit crunch.

There are less than 13% people in this world who can afford to buy brand new stuff for their use. The rest 87% always go for second hand stuff. From this ratio you can judge the importance of saving money. Obviously there are thousands of ways to save money other than buying second hand items from a second hand store. Fro example you can also save money on your food items, you can rent an apartment with a less rent and you can save electricity. But the mentioned reason will not save you a lot of money and the amount of money you want to save.



By: weddulaestore

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FDI International has taken the Telecom industry by storm. Global Verge, ACN and 5Linx cannot compare. FDI goes international in over 60 countries around the world by partnering with GI Connect. GI Connect has already proven itself outside the United States with over 800,000 representatives. Now it is coming back home to change the face of telecommunication and has partnered with Financial Destination Inc.

On August 14th, Financial Destination Inc is going global. The industry is buzzing with what is coming. On August 14th FDI International goes live in over 60 countries. All this will happen at the National Convention August 13th-15th Baltimore, Maryland.

In the United States alone, the telecom industry is $1.3 Trillion dollars in worth. However, when combined with the international market, it skyrockets to over $4 Trillion dollars. FDI International is vastly becoming the global leader in personal communications and financial solutions for people and businesses worldwide.

Prior to FDI’s global expansion, it’s VIP Personal and Financial Concierge Services was unheard off. Each member has access to their very own personal and financial assistant that would literally cover almost every aspect of your life. From maximizing credit scores and knowing the exact day, month and year one would be debt free. 

FDI has truly set itself apart. Some of the benefits of FDI International will be:

*Users will be able to talk on their cell phone while flying in a commercial aircraft from coast to coast, without violating the “no cell phone” law and at no coast.

*Free unlimited access to Video Conferences with or without a video phone and for up to 23 people. Video Phone Calls—See the person you are talking, LIVE! 

* Unlimited voice, text and data plans for as little as $10 a month, with no credit checks and no contracts.

These are just a few of the awesome benefits that will be coming with FDI International. FDI International has positioned itself so that everyone can save up to 95% on the things they are already spending.

FDI owns the tone ( and I mean literally ) and is proving it in a big way. FDI International will be in 7 categories of Telecom. Telecom as we know it is changing and FDI is leading the charge.

* Cellular

* VOIP

* Residential

* Calling Cards

* Video Phones

* Business Solutions

* Hardware and Equipment

FDI has No Competition!!!

Need More Information About Financial Destination then visit

We have a program that is setup so that you maximize your profit potential.  “Work Smarter, not Harder”

www.FDIRep.com/4u2bn

http://www.fdipro.net opportunity webinar CONF CALLS MON-FRI 1:00 PM AND 5:00 PM CST 212-990-8000 PIN 7555#

HILRY THOMAS   drivingsuccess@yahoo.com   504-329-4519

Best Regards,



By: HILRY THOMAS

About the Author: