International trade reduces the barriers between countries and creates better opportunities for a global market. The business of arms and ammunition is one of the largest international trades and it has a significant role in the world. Most of the countries are involved in arms trade, either as exporters or importers. Self reliance, in weapons manufacturing is the backbone of any country to maintain its sovereignty and freedom and provide it with a strong defense against their enemies and all the threats whether foreign or domestic. Weapon manufacturing is also an industry which can improve a country’s economy on a vast scale. Pakistan is listed in those few Muslim countries which have the ability to produce their own defense equipments and weapons. The new wars have resulted in increased competition among arms exporters, as historical rivals can now cater to the same market. The 5 permanent members of the UN Security Council (US, Russia, France, United Kingdom and China) together with Germany and Italy account for around 85 percent of the arms sold. In recent years, global military expenditure has increased and is now comparable to the Cold War era, a recent data shows global spending at over $1.6 trillion 2012. China’s increasing ability to manufacture its own weapons, India is today the biggest importer of arms, buying 10 percent of the world’s total. According to a study by Stockholm International Peace Research Institute (SIPRI) Pakistan is the third largest importer of arms and weapons. According to the study Asia leads the world in importing weapons and Pakistan is only behind by South Korea and Russia in importing arms. A treaty to create global standards for import, export, and transfer of conventional arms is in the process of being developed at the UN. The Arms Trade Treaty (ATT) has the potential to impact the severity of conflicts around the world by ending the widespread practice of irresponsible arms transfers. The ATT’s creation is a response to the broad international movement that has demanded greater regulation of the multi-billion dollar industry.It has been seen that the arms race has created wars in the underdeveloped countries and they suffer the most. It is hoped that the ATT will be able to curb the weapons’ race and wars by regulating arms deals among these nations.MBA GRADUATES OF M.A.J.U, Rahim Yar Khan, June 24.