Impact Of Free Trade Agreement On Industrial Growth Of Pakistan

Recently, Pakistan`s growth has accelerated further, but macroeconomic imbalances are spreading. Macroeconomic stability is a major problem for the short-term economic outlook. According to the World Bank database, Pakistan`s GDP growth increased by 0.8% over the previous year to reach 5.3% in the GJ17. Van Beers C, Van Den Bergh JC (1997) A multi-country empirical analysis of the impact of environmental legislation on trade flows. Kyklos 50 (1):29-46 Van Tongeren F, Beghin J, Marette S (2009) A cost-benefit framework for assessing non-tariff measures in agricultural and food trade The sources of bilateral trade flows (export and import data) are the Integrated Global Trade Solution (WTIS). The GDP and population data are defyed from World Bank data. The variables related to the bilateral distance, the common language, the common border of the Cepii GeoDist database. Free trade agreements are collected on the WTO website. Data on environmental rigour and non-tariff barriers come from the OECD and WTS respectively and are then calculated on the basis of the Walter and Ugelow Environmental Impact Index (1979), which measures the strict rigour of countries and ranks countries from 1 (strict) to 7 (tolerant). The same calculations were calculated for NTB because of the lack of data on European countries today, in a world of competition, national policies are more protectionist. States prefer to protect themselves from increasingly unfair international competition, particularly in developing countries, by imposing taxes on international companies, which encourages domestic production and imposes restrictive measures.

These laws and measures are sometimes reinforced by a strict environmental policy, especially in industrialized countries. The results of this study suggest that stricter environmental policies reduce international competitiveness (Xu 2000). Strict environmental policies have a significant impact on foreign trade and thus reduce Pakistan`s trade flows. Campi M, Dueas M (2019) Intellectual property rights, trade agreements and international trade. Res Policy 48 (3): 531-545 The results of Tables 3 and 4 on trade policy variables indicate that the coefficient signs are opposite in both models.