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Pak optimistic of gaining EU GSP-Plus status next year
03 Mar '12
2 min read
Pakistan is positive about gaining the Generalised System of Preferences (GSP) Plus status in 2013, to be conferred by the European Union. The status would greatly boost Pakistan's exports to the EU, including textiles, a major export item of Pakistan.
Finance Secretary Wajid Rana told the National Assembly Standing Committee on Finance that Pakistan is in talks with the EU to win the GSP-plus status and the decision in this regard is likely to be taken in 2013.
He said the GSP Plus status would be in addition to the recent announcement of duty-free access to the EU for 75 Pakistani items, mostly textile items.
He added that the Government would further discuss regarding the GSP-Plus status at the forthcoming Pak-EU Strategic Dialogue and Pak-EU Summit.
Mr. Rana disclosed that a meeting of the PAK-EU Joint Commission has been scheduled to discuss Pakistan's access to the EU market, prior to the scheduled visit of the EU Foreign Minister to Pakistan in April this year.
He revealed that the concerned Ministries in Pakistan like the Ministry of Commerce are working to prepare a strong case to be put at these key meetings.
Pakistan's exports to the EU are likely to be hit by the eurozone crisis, however, the negative impact would be offset by duty-free access for 75 items to EU countries, Mr. Rana said.
During the initial seven months of the current fiscal, Pakistan exported textiles worth US$ 7.6 billion, up from exports of US$ 6.9 billion achieved during the corresponding period of the previous fiscal, Mr. Rana informed.
Finance Secretary Wajid Rana told the National Assembly Standing Committee on Finance that Pakistan is in talks with the EU to win the GSP-plus status and the decision in this regard is likely to be taken in 2013.
He said the GSP Plus status would be in addition to the recent announcement of duty-free access to the EU for 75 Pakistani items, mostly textile items.
He added that the Government would further discuss regarding the GSP-Plus status at the forthcoming Pak-EU Strategic Dialogue and Pak-EU Summit.
Mr. Rana disclosed that a meeting of the PAK-EU Joint Commission has been scheduled to discuss Pakistan's access to the EU market, prior to the scheduled visit of the EU Foreign Minister to Pakistan in April this year.
He revealed that the concerned Ministries in Pakistan like the Ministry of Commerce are working to prepare a strong case to be put at these key meetings.
Pakistan's exports to the EU are likely to be hit by the eurozone crisis, however, the negative impact would be offset by duty-free access for 75 items to EU countries, Mr. Rana said.
During the initial seven months of the current fiscal, Pakistan exported textiles worth US$ 7.6 billion, up from exports of US$ 6.9 billion achieved during the corresponding period of the previous fiscal, Mr. Rana informed.
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