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Duty-waiver for Pakistani goods to help EU the most
13 Oct '10
2 min read
European Union's (EU) move to waive the custom duty on Pakistani textile and leather products is seen to benefit the EU countries the most as it will now be able to obtain best quality products at lowest global prices.
Pakistan's key value-added textile and leather sector has earned zero custom duty access in EU for three years.
Except bed-linen, the exemption will help export 65 textile product lines, duty-free from Pakistan to the EU and also has three lines of footwear and six lines of leather products.
Further, though such duty waiver would benefit the Pakistani industries but then, EU will remain to be the biggest beneficiary as it would be able to purchase the world's best quality items at cheapest rates.
This custom duty exemption scheme better is an aid-linked package devised to benefit Pakistan to recuperate from the effects of massive floods and will become effective from January 1, 2011.
Experts believe that, though such duty waivers for 74 product lines would prove advantageous for Pakistani export sector, but then its key export items including bed linen and textile inputs have been overlooked.
Further with this exemption, Pakistan's exports to EU are seen growing by about $140 million.
Presently EU imports about € 3.3 billion worth of products each year, of which contribution of the 75 production lines under consideration comes to almost € 900 million.
The waiver proposal would soon be put before the member nations and the European Parliament for their authorization, and would be made effective only if the World Trade Organization gives its nod to the proposal.
Pakistan's key value-added textile and leather sector has earned zero custom duty access in EU for three years.
Except bed-linen, the exemption will help export 65 textile product lines, duty-free from Pakistan to the EU and also has three lines of footwear and six lines of leather products.
Further, though such duty waiver would benefit the Pakistani industries but then, EU will remain to be the biggest beneficiary as it would be able to purchase the world's best quality items at cheapest rates.
This custom duty exemption scheme better is an aid-linked package devised to benefit Pakistan to recuperate from the effects of massive floods and will become effective from January 1, 2011.
Experts believe that, though such duty waivers for 74 product lines would prove advantageous for Pakistani export sector, but then its key export items including bed linen and textile inputs have been overlooked.
Further with this exemption, Pakistan's exports to EU are seen growing by about $140 million.
Presently EU imports about € 3.3 billion worth of products each year, of which contribution of the 75 production lines under consideration comes to almost € 900 million.
The waiver proposal would soon be put before the member nations and the European Parliament for their authorization, and would be made effective only if the World Trade Organization gives its nod to the proposal.
Fibre2fashion News Desk - India
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