Media Type

Talk

Publication Date

7-31-2006

Description

The present study by SPDC clearly demonstrates that trade liberalization is good for growth as well as poverty reduction. Trade liberalization is just one component of the phenomenon broadly termed as globalization. Other components are financial flows and integration, migration of labor and technology transfer. In my recent travels across a number of developing countries I came back with an uneasy feeling that our best efforts to liberalize and integrate our economy in the globalizing economy are not yet good enough to keep up with the growing competition. I realize that a deeper process of reforms going beyond top layer reforms of macro economy was required. I believe that we as a nation --- individuals, businesses and government --- have to concentrate upon some of the harsh realities in order to bring about this deeper process and thus strengthen our capabilities to succeed in the rapidly changing global economy.

Notes

Chairman's address at SPDC-DFID Seminar on Trade Liberalization and Poverty held at Lahore on July 31, 2006. IH0253

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