|  | 

General

Pakistan Assures Compliance With EU’s Export Regulations

Pakistan has assured the European Union (EU) to comply with all the requisites for the continuation of duty-free exports to the 27-nation bloc.

Adviser to the PM on Commerce & Investment Abdul Razak Dawood during a meeting with Ambassador of the EU to Pakistan Androulla Kaminara said,

Pakistan has stayed focused and will adhere to the agreed timelines, despite the difficulties caused by the COVID-19 pandemic.

Adviser to the Prime Minister on Commerce Razak Dawood said the implementation of 27 conventions under the generalized scheme of preferences (GSP) plus is important for Pakistan for long-term national and social benefits.

The purpose of the meeting was to discuss various matters related to GSP plus and different avenues of cooperation between Pakistan and the EU, particularly for the development of small and medium enterprises, promotion of culture, and tourism industries.

Kaminara discussed various ideas for providing support to the freelancers in the IT sector, handicrafts, and tourism, with the focus on creating linkages within the European Union to open new markets for the products and services. Secretary commerce apprised the ambassador of various developments.

He said that a lot of emphasis is already on the development of small and medium enterprises under the ‘Pakistan Goes Global’ project and the strategic trade policy framework 2020-25. The meeting ended with both sides agreeing to hold more meetings and explore more avenues of cooperation.

The EU signed a law in late 2013 granting GSP plus status to Pakistan to pay no taxes on certain categories of goods exported to the bloc for 10 years. The EU makes GSP plus conditional on implementing international conventions on human and labor rights, environmental protection, and good governance.

The textile industry, making up more than 60 percent of the country’s total overseas shipments, is the biggest beneficiary of the agreement. Trade officials estimate Pakistan benefited around $15 billion from GSP plus since the start of the facility.

Dawood said,

Our future cooperation there is a lot of potential in northern areas for locals to expand the tourist infrastructure.

He also endorsed the idea for promotion of the IT sector, which is posting good growth and is being promoted under the patronage of the government under the e-commerce policy.

The adviser said the building of a closer relationship with the EU markets will require more brainstorming.

 

Source: Propakistani

pakistan-assures-compliance-with-eus-export-regulations

ABOUT THE AUTHOR

POST YOUR COMMENTS

About Us

Yes, it is true that the Business Observer does what its name reveals, means covering the news from all the industries, which are putting their efforts into accelerating the economy of Pakistan. The website is the trustworthy business news website and its name is taken among those business websites of Pakistan.

Monthly Archives