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Talks on inclusion in EU GSP+ arrangement begins
17
Mar '09
Finally, representatives of the European Commission and Pakistan are conducting joint meetings to discuss the possibility of having a free trade agreement with Pakistan in the GSP+ arrangement for the period 2009-2011.

Four sub-groups have been formed under the heads of Trade, Development & Economic Cooperation, Migration & Civil Issues and Science & Technology, who have begun their deliberations to further strengthen bi-lateral cooperation.

Recently the European Commission had lifted the anti-dumping duty on exports of bed-sheets, towels, etc as none of the member countries were in favour of extending the tariff barrier, which expired on March 5.

Earlier the European Commission, during a review of extending and including new countries in the GSP+ status had denied the same to Pakistan. Pakistan demanded a review of the same from the commission and which has now been accepted.

Pakistan has been demanding the status on the strength of its export to the bloc which accounts for 26 percent of all exports and 17 percent of all imports, making the European Union, the single largest trading bloc for the country.

During the last fiscal year (2007-08) the total trading volume between the EU and Pakistan touched US $10.8 billion, up by $1.4 billion, when compared with the same period of the previous fiscal of 2006-07.



Fibre2fashion News Desk - India


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