EU to reduce duty on Pakistani products

ISLAMABAD: The European Union (EU) has decided either to reduce or abolish the import duty from some of the products imported from Pakistan.

This was stated by the Ambassador of Spain to Pakistan, Gonzalo Maria Quintero Saravia, while talking to APP here on Friday. He said that this step will be taken in order to help overcome the economic problems being faced by Pakistan. However, a final decision to this effect is expected during the upcoming visit of Prime Minister Yousuf Raza Gilani to Brussels, scheduled to start from June 4.He said that Spain was very active to promote and strengthen bilateral relations including trade between the two countries.

Expressing his dismay over the low bilateral trade volume which was less than 500 million euros, he said that the Spanish government was striving to bring the trade volume up to the maximum level. He expressed the hope that the trade volume would touch 2 billion euros during the next two years. He also stressed the need for overcoming internal economic challenges including energy problems which were hampering industrial productivity.

The ambassador said that Pakistan should make efforts for making exports goods more competitive and target different international markets. About the visit of Prime Minister Gilani, the ambassador said that it will be the first official visit of the prime minister which is very important for the promotion of bilateral relations.

Published  in the Express Tribune, May 22nd, 2010.