COVID-19 and World Trade

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Barkatullah;
Due to the global reach and instantaneous nature of modern media,fear of the coronavirus spread faster as the cases of virus proliferate. However, it has an acute impact on international trade , national trade, businesses across the country. As the coronavirus inflicts rising economic damage and liquidity pressures increase, and businesses need to find new ways to keep going . The coronavirus crisis has brought to the fire various problems of resilience in supply chains around the world . Recently the World Trade Organization ( WTO) warned of a fall of up to a third in international trade , with little clarity on when the situation will improve , many supply chain players are seeking ways to adjust and adopt to new normal . In recent months, as the epicentre of the COVID-19 pandemic has shifted west from Asia to Europe and the Americas, manufacturers, exporters, buyers and suppliers across every industry have found themselves facing factory shutdowns, restrictions on activity and shipping delays . In Pakistan borders are closed earlier due to the pandemic , and has been reopened this month ,but the border authorities are allowing only those trucks to pass through that are carrying cargo under transit trade . Although Pakistan export is outrageously affected and exporters are facing heavy losses , and there has imposed restrictions on trade activities because of coronavirus terror . Therefore the government of Pakistan should concentrate on bilateral and transit trade in the country and ensure that they are well maintained.