Home / Knowledge / News / Textiles / EU implements trade concessions package to Pakistan
EU implements trade concessions package to Pakistan
17
Nov '12
Mr. Makhdoom Amin Fahim
Mr. Makhdoom Amin Fahim
The European Union has issued notice for implementation of trade concessions package to Pakistan. The package provides duty-free access for 75 Pakistani products to the EU nations.
 
The trade concessions package is an effort by the EU to compensate Pakistan for the loss occurred due to the devastating floods of 2010.
 
Addressing a press conference, Pakistan’s Senior Commerce Minister Makhdoom Amin Fahim said the EU package is likely to accrue financial benefit of around € 500 million to Pakistan by December 2013.
 
Under the trade concession package awarded to Pakistan, only 25 percent of the annual quota will be available for duty-free access during the remaining part of the current year, while a full 100 percent quota will be available next year.
 
The European Commission will manage the duty-free access quota and the Pakistani officials would have to only confirm the Pakistani origin of the exported products, which would make them eligible for trade concessions.
 
The Minister further informed that Pakistan has signed a memorandum of understanding (MoU) this month with the four-nation European Free Trade Association to consider the possibility of entering into a trade agreement. The grouping consists of Iceland, Liechtenstein, Norway and Switzerland.
 
Pakistan is also hoping to secure Generalized System of Preferences (GSP) Plus status, to be effective from 2014, to gain duty-free access to all Pakistani products. However, Pakistan would have to implement all human rights conventions signed by it at various global forums before gaining GSP Plus status.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Textiles | On 23rd Sep 2017

India: Odisha to set up handloom, handicrafts council

The Odisha state government will set up the Handloom and Handicrafts...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search