Integration Into The Global Market

I will take up each of these questions at some length in this paper and conclude by outlining the agenda for future action.

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Integration into Global markets During the last fifty years, the volume of world exports has risen twenty

fold and volume of world manufactured exports almost forty fold. World output growth, on the other hand, has grown only seven fold. By 2001, world trade

accounted for 24 percent of World Gross Product. If we look at the last three decades, merchandise exports of developing countries (DCs) have grown at an average rate of 12 percent per annum. Manufactured exports accounted for 70

percent of DCs exports at the end of the 1990s and 30 percent of world manufactured exports. These global markets therefore presents an excellent

avenue for developing countries to participate in the benefits of a buoyant trading...PAKISTAN’S EXPORT COMPETITIVENESS IN GLOBAL MARKETS ISHRAT HUSAIN

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Pakistan’s export competitiveness has to be examined in the broader context of integration of developing countries into global markets, the

opportunities and benefits it presents and the challenges we face in deriving maximum benefits. This paper aims to address the following four questions:-

(1)

Why should Pakistan integrate itself into global markets? rely on our own domestic market of 145 million people?

Why can’t we

(2)

If we decide to integrate, this will involve opening up our economy to products from other countries and deprotect our industry. Won’t this lead to de-industrialization of Pakistan?

(3)

Pakistan has a weak, narrow and inefficient industrial base. How can our...