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Dr Manzoor Ahmad, President of the Policy Research Institute of Market Economy talking about the problems with STPF2015 and draws out guidelines for an Open Trade future for Pakistan. ------------------------------------------------------------------------ This video was recorded at the 1st National Conference on Open Trade, organized by Policy Research Institute of Market Economy, and enabled by the Friedrich Naumann Foundation for Freedom. ------------------------------------------------------------------------ Dr Manzoor Ahmad, President- PRIME Institute and Pakistan’s former ambassador to WTO, said that the global trading patterns have changed. Almost 70% of global trade is now conducted through global supply chains (GVCs). Around 30% of total trade consists of re-exports of intermediate inputs. Pakistan is not a part of these emerging trends because of its high taxes on international trade and cumbersome trade procedures. Pakistan needs to revisit its regional and global trade policies. Pakistan must restructure its taxation policies and look for ways to integrate its comparative advantages within global supply chains. It must also reassess its current protectionist policies, which are stifling the economy and undermining the country’s ability to compete in the global market.