India May No Longer Oppose The EU'S Proposed Package Of Trade Aid Policies In Pakistan.
The EU will be in fourth early next month.
World Trade Organization
(WTO) the proposal to grant a package of trade assistance policies to Pakistan is likely to eventually withdraw its objections in India.
About 75 products tax items from Pakistan will receive preferential tariffs for three years to enter the European market, of which 67 will be subject to zero tariff.
The remaining 8 products will be subject to tariff rate quotas (reduced tariffs).
Quota restriction
Import).
The measure was proposed by the 27 EU countries to help Pakistan suffer from catastrophic floods last year, resulting in several deaths and many homeless people.
Last year, Pakistan's growth rate was also severely damaged.
The EU's time for trade aid measures is expected to be 2-3 years. Pakistan's exports to the EU are expected to benefit about $300 million a year.
India hopes to stop giving up.
Discount
The measures are aimed at preventing adverse effects on bilateral relations between India and Pakistan, because the Minister of Commerce of Pakistan will visit New Delhi next month.
The WTO General Council has accepted the proposal three times.
The move was opposed by India, Brazil, Bangladesh, Peru and Vietnam, which would have a negative impact on their exports to the European Union.
Of the 75 products that will receive tariff free, 64 are textile products and a few are agricultural products.
India objected from the perspective of business logic, but India also believed that giving up such aid measures would be a bad precedent, contrary to WTO.
Non discrimination
The spirit.
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