ISLAMABAD: The Council for Trade in Goods (CTG) on Wednesday unanimously approved a Pakistan-specific EU trade package to allow tariff-free export of 75 Pakistani products to EU markets over the next two years.
The package, Autonomous Trade Preferences – approved by the CTG of the World Trade Organization (WTO) at its meeting in Geneva, will enter into force after its formal approval by the WTO General Council in March this year.
The EU Trade Package will help Pakistan deal with economic losses caused by the unprecedented floods in Pakistan in 2010. It would help increase Pakistan exports to EU countries and generate thousands of jobs in Pakistan.
A statement issued by the Foreign Office said Pakistan was grateful to WTO member countries for their support.
“The Government of Pakistan particularly appreciates the European Union and its member states for their commitment to help Pakistan revive and stabilize its economy through trade.”