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Bali package is an accord arising from the intense negotiations between developing and developed countries at the resort place of Bali in Indonesia in 2013 and that’s why it is known as “Bali Package”.
This agreement is a part of Doha development Round (started in 2001) and its main aim is to boost trade among world countries. According to the director general of World Trade Organization, this agreement will help boost business by 1 trillion dollars adding 1 Million jobs to the tally.
Run-up to Bali Package
In 2008, negotiations under the umbrella of DDA (Doha Development Agenda) came to a collapse due to a dispute that emerged between United States of America and India. This led to a pessimistic perception that Doha Round has failed completely but was not the case. With the stepping in of Roberto Azevedo as the director general of World Trade Organization and prominence of “Early-Harvest” concept, Bali package ( a part of DDA) was agreed unanimously and thus paving way for further development on Doha Development Round.
Major contents of Bali Package
The Bali Package consisted of four main areas of TF (Trade Facilitation), Agriculture, cotton, and Development.
Trade facilitation
This area basically deals with mechanisms, customs laws and other measures that will reduce hindrances to the cross-border trade thus eliminating Red tap-ism, subsidies and other tariff and non-tariff barriers that stem the flow of trade across borders. This point has been a matter of great discussion because developing countries like Pakistan may take advantage of this but may prove to be counter-productive as well in case if not implemented in letter and spirit.
As per this point, the developed countries would provide technical and financial assistance to developing and least-developed countries. Pakistan being a developing country will take advantage of this naturally. On the other side this was a matter of concern also due to the fact that if donor countries didn’t provide sufficient funds and technical assistance, it can prove to be a liability. If developing countries pledged to improve their custom system and didn’t deliver results then it can harm their reputation as well.
Agriculture
Agriculture was the main bone of contention which had caused a continuing deadlock over the years.G-33 countries under their leadership of India wanted to give sufficient subsidy to their local farmers by buying agriculture products at an administrative price which was not in compliance with the law of World Trade Organization. This prompted a severe response from the United States of America who was in favor of complete access to Indian market.
Poor countries who were nerves regarding Indian stockpile also raised objections.
This non-re-conciliatory approach from both sides resulted in a sort of standstill agreement which gave India right to subsidize farmers without harming the economies of poor countries. Pakistan was against the Indian initiative because of the dangers it poses to the agriculture and Pakistan hopes that India will lift these subsidies.
Cotton
Negotiations on Cotton trade resulted in the reinstatement of the agreements that took place in Hong Kong, 2005. This allowed subsidies on cotton but the under the guidance and monitoring of World trade organization. Pakistan wants free access to the developed markets but facing certain measures from those countries which it has to absorb.
Development Issues
This contains four main issues which include preferential access to developing countries to developed markets, removing duties and subsidies, simple rules and regulations for developing countries and a systematic mechanism that would monitor the progress and implementation. Pakistan has been a staunch proponent of duty-free access to the developed market and with its allies, it's trying to open new ways to the world trade.
Conclusion
Though there may be some loopholes in Bali Package yet overall it is fruitful to Pakistan because of its quest to reach global market without being hampered by certain mechanisms of developed countries to stop inflow of foreign products into their markets
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