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

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Headhonchos
Indian textile value chain

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

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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