The European Union (EU) concessionary package to Pakistan is not only an economic bonanza, but also spells a diplomatic triumph for the democratic government, says an analyst.
“The World Trade Organization (WTO)/EU package provides a breather to the domestic industry which has been plagued by the energy crisis and related issues.” BA Malik, a former envoy, told APP.
He observed that extra earnings due to the concession will provide domestic manufacturers with a strong incentive to improve their products’ quality.
Besieged by recurrent natural disasters and a loss of over $70 billion in the war against extremism, our economy stands a good chance to recover due to the largesse of our EU trading partners, he remarked.
The retired ambassador said that the onus of responsibility now lay with the manufacturing sector and that the EU and WTO’s gesture of friendship must be reciprocated with gratitude.
Published in The Express Tribune, February 15th, 2012.
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I think it is a great achievement for the country. Now I strongly hope that Pakistani companies will improve their product and services quality and dont let this chance go waste.
I am a Paki-American, and wish to thank the EU & WTO for the concession. I wish America would also provide TRADE deals to Pakistan rather that aid.