New status has the potential to create one million new jobs besides expanding export base. PHOTO: FILE
The Ministry of Commerce tweeted that the EU Parliament's International Trade Committee had voted 17-12-1 in favour of Pakistan's inclusion:
ALLAH'S BLESSINGS >EU Parliament's International Trade Committee has voted in favour of proposed 10-country pkg~including Pakistan~for GSP+
— PakCommerceMinistry (@CommercePkMoS) November 5, 2013
EU Parliament International Trade Committee (INTA) has voted 17-12-1 to reject resolution blocking 10 countries~including Pakistan~from GSP+
— PakCommerceMinistry (@CommercePkMoS) November 5, 2013
According to the ministry, Pakistan may now enter the GSP+ club from January 1, 2014, a prospect likely to create one million new Pakistani jobs.
Probable grant of European Union's GSP+ to Pakistan is likely to create a million jobs for Pakistani youth & boost exports by $500 million
— PakCommerceMinistry (@CommercePkMoS) November 5, 2013
The European parliament was considering the GSP+ package for 10 developing countries in all.
The GSP Plus is granted to those countries that ratify and implement international conventions relating to human and labour rights, environment and good governance. The EU has been closely watching Pakistan’s human rights record and also fiercely opposes the death penalty.
Exporters from various industries in Pakistan including textile were anxiously hoping for access to European markets, which promises huge potential for multiplying the country's current exports.
Industrialist and former president of the Karachi Chamber of Commerce Majyd Aziz tweeted in this regard:
EU Parliament approves GSP Plus for #Pakistan . . . . We move one step higher
— MAJYD AZIZ (@MajydAziz) November 5, 2013
COMMENTS (19)
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Appeal :for the kind attention of Mr shahbaz sharif and CH. mohd sarwar.
Please announce the gas continuity without fail in textile sector before the announcement of GSP plus status for pakistann...it will make impact on eu union..as Pakistani Govt is ready to support its textile industry to grab the opportunities and enjoy the benefits of gsp plus status.
Thanks Tamseela hassan.
The EU vote came after the convincing speech of Governor Punjab, Chaudhry Muhammad Sarwar at the European Parliament. Good choice made by PMLN. Bravo!!
The only place this news has been reported is Pakistani media. Google search does not show any such news in European media or the media of the 9 other countries similarly approved for GSP plus.
Is there a reliable source outside Pakistan that confirms this information?
This is the great News for us and we will be Boom Boom in all the EU countries.
@Hedgefunder: This is a real mile stone for Pakistan textile sector as earlier we were fighting against all odds and this going to be real breeze for them. I don't know your experience of working in Pakistan but certainly there are suppliers who can cater by delivering the right product at the right price and at the right time.
Energy crisis have significantly improved the medium to big suppliers have their own power generation.
It is indeed a great news for the entire Textile sector of Pakistan and if Govt can improvise on the issues of electricity and gas then nothing can stop Pakistan to make the current exports double to its actual figure. Hope Govt and people of Pakistan realizes the importance of its industry and take crucial decisions in utilizing this GSP opportunity. Optimism is the key to growth and success.
@Hedgefunder: Good joke just like a typical hedge fund.
This is the signal for the investors to produce labour intensive products in Pakstan for local consumtion as well as for exports to European markets.
Rex Minor
EU diplomats welcome to the world of bonded labour, death penalty (only over 13000 on death row) and human rights violations (minority rights, .....).
This only happens when India and Bangladesh stop opposing it in WHO and Pakistan will give India MFN status till dec 2012( MFN status will help both countries but more to Pakistan) but Pakistan betrayed India and has not fulfill its commitment as they not want to do with Iran gas pipeline.
Which will only reduce Pakistan credibility in a long run.
This will be withdrawn if NATO supplies are blocked, as Imran Khan wants.
Learn to Deliver what you Promise on Time First ! Pakistan does not have reputation for delivery nor quality on time ! Sort your Energy Problems out first too, as it may help exporters not to cut corners to make fast buck and lose long term relations with purchasers.
Impact all relative to what happens with your major competition - if India, Bangladesh and China get same treatment then how's that going to help create jobs.
Good news! I hope the government tries to accommodate the export businesses and factories by offering lower to no power cuts and secure environment inshaAllah.
Who else is in the GSP+ group
Acoording to PakCommerceMinistry tweet "Probable grant of European Union's GSP+ to Pakistan is likely to create a million jobs for Pakistani youth & boost exports by $500 million". This is really minuscule, the increase should be at least 6-8 billion USD. Any good realistic figure?