The EU Will Provide Preferential Policies For Pakistan'S Exports.
Pakistan
Business community welcomes
European Union
It is proposed that 75% of Pakistan products be allowed to enter the EU market without customs duties. But at the same time, on Friday, the business community asked EU leaders to consider providing long-term preferential policies instead of just three years. Bedsheets and T-shirts should also be included in the list of products for tariff free access.
On Thursday, the European Union announced its draft proposal. According to the EU's trade assistance program for flood victims, the EU will allow 900 million euros (US $1 billion 300 million) of Pakistan goods to be duty-free into the EU market next year.
About 65% of the 75 commodities included in the draft proposal are
textile industry
Products.
Anees-ul-Haq, Secretary General of the Pakistan Textile Mills Association, said that the floods in southern Punjab and Sindh province resulted in damage to 1 million 500 thousand bales of cotton and caused heavy losses to the textile industry in Punjab.
He said that tariff free entry of Pakistan products into the international market will create more employment opportunities for Pakistan, and will greatly promote the development of the textile industry.
EU Trade Commissioner Carlo Teguh Hurt (Karel De Gucht) said the move was meant to help Pakistan recover from the devastating floods and maintain political stability.
On the other hand, Pakistan has agreed to accept the repatriation of illegal immigrants from EU countries.
Most of the trade preferences are textiles, but the main products in Pakistan do not enjoy preferential tariff reduction policies.
- Related reading
Pakistan Textile Industry Will Benefit From The EU EU Tariff Free Access Negotiations.
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