Ministry of Commerce: TDRO draft to be introduced in parliament this year

Proposed law will help resolve international disputes effectively

ISLAMABAD: The draft of the Trade Dispute Resolution Organisation (TDRO) will be introduced by the Ministry of Commerce in the parliament this year, said Federal Minister for Commerce Khurram Dastgir.

“The proposed law is designed to introduce into Pakistan a state-of-the-art, comprehensive regime for the swift, efficient and effective resolution of international import and export complaints and disputes,” he said, addressing a seminar on ‘Public Private Dialogue on Draft Law of Trade Dispute Resolution Organisation (TDRO).’

He said the new law will also provide administrative and adjudicating powers to TDRO to take swift actions for the resolution of international trade disputes.

“Moreover, this law will bridge the trust deficit between local and foreign businessmen and will have linkages with the international trade dispute resolution organisations and departments,” he said.

The mandate for resolution of trade disputes of international nature was previously with the Export Promotion Bureau (EPB). Currently, it rests with the Trade Development Authority of Pakistan (TDAP).

Extensive consultations were held with 500 public and private organisations which included trade bodies, think tanks, ministries, lawyers, arbitrators and mediators for feedback on efficacy of the current system and for suggestions on revamping it under the new Trade Dispute Act.

“It is essential for the promotion of trade in Pakistan, protection of all trading interests and improvement of Pakistan’s standing internationally that there should be a regime for the swift and efficient investigation and resolution of trade disputes,” remarked Dastgir.

Published in The Express Tribune, February 11^th,  2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.