FAISALABAD: The export of textiles to Europe is expected to rise by 31% as Pakistan will be included in the European Union (EU) Autonomous Trade Preference Scheme from next month.
“Exports in 2011 stood at $1.709 billion and under the EU preference scheme, the shipments are estimated to rise to $2.246 billion, with an increase of $537 million,” said Mujeeb Ahmad Khan, Head WTO Cell of Trade Development Authority of Pakistan (TDAP), during a meeting with industrialists at the Faisalabad Chamber of Commerce and Industry (FCCI) on Wednesday.
He said under the scheme, 26 items came under tariff-regulated quotas while 49 items were covered under non-tariff regulated quotas. In total, 75 items have been granted duty-free market access.
Only 25% of annual quota will be utilised for duty-free access in the remaining two months of the current calendar year. EU importers and all interested parties will be able to monitor the status of quota utilisation at any given time on website of the EC Directorate General of Taxation and Custom Union. When 90% of the quota is consumed, its status will be considered critical and an alert will be posted on the website against that particular tariff line.
Discussing quota management, Khan said it would be done by the European Commission. The basic role of Pakistani authorities will be to issue the certificate of origin, confirming that the exported products are of Pakistani origin, so that they can quality for the concessions.
Published in The Express Tribune, October 18th, 2012.