Talks are expected to be held with the European Free Trade Association (EFTA) group in April and if concluded on a positive note, it will further boost Pakistan’s exports, the secretary said. The European Free Trade Association (EFTA) includes Iceland, Norway, Lichtenstein and Switzerland.
Commerce Secretary Zafar Mehmood informed this in a meeting chaired by Prime Minister Yousaf Raza Gilani regarding access to European markets on Friday.
The first batch of items will be exported to the European Union markets without any custom duties from January 1, 2013, the secretary informed. The World Trade Organization (WTO) approved the European Union package on February 14 and is currently awaiting the approval of the EU Parliament. The WTO’s Council for Trade in Goods approved a waiver on customs duties for 75 items, mostly textile related, from Pakistan to help the country recover from 2010’s floods.
The secretary said that the over and above impact on Pakistan’s export would be around $450 million from the tax-free exports.
It was also decided at the end of the meeting that the prime minister would preside over the envoy’s conference meeting belonging to the European Union during his forthcoming visit to UK to appreciate the support.
During the meeting, representatives of the private sector called upon the government to take immediate action for the continuous supply of energy to the export industry in order to fully capitalise the expected tariff concessions from the EU and EFTA countries.
The prime minister said that the government had addressed the circular debt issue to a large extent which would lead to electricity being generated at its maximum capacity and improve supply considerably. He said that he had already held a meeting with the representatives of All Pakistan Textile Manufacturers Association earlier in the day who came up with some out of the box solutions to overcome the energy shortage.
The meeting was also attended by Adviser on Finance Dr Abdul Hafeez Shaikh and Minister for Commerce Makhdoom Amin Fahim.
Published in The Express Tribune, March 3rd, 2012.
COMMENTS (8)
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@Senthilman: You can equally disappear in Indian State of Gujrat by Hindu RSS Terrorist Narendra Moodi ( The Killer of 2000 Muslims) or even in Mumbai by Bal Thakray. Or perhaps can be one of those 100,000 Kashmiri Muslims either dead or disappeared. So, What the heck are you talking about. You can not become the champion of Human Rights in this Century after being the biggest violator of Human rights yourself in Asia. Give me a break. Get lost.
@khan If you are in Pakistan get out now before becoming a missing person. Don't you know the taboo word in Pakistan?
@khan: India's stand was against this before.
@The other Khan: The following link will help:
http://tribune.com.pk/story/330058/eu-market-access-to-make-headway-soon/
@Khan I'm Not anti-Indian, but just need explaining what role has India played in this?
@Hina: Care to explain?
@khan India does not need to be thanked.
Good stuff.. all thanks to India