EU Commission to unveil Pakistan plan Thursday

[Aeon]

EU Commission to unveil Pakistan plan Thursday
Wednesday, 06 Oct, 2010

BRUSSELS: The European Union's executive Commission will unveil plans on Thursday to grant limited trade concessions to Pakistan to help it recover from devastating floods and maintain political stability, EU officials said.

The proposal will see EU tariff cuts on a large number of products imported from Pakistan and should boost Pakistani imports to Europe by 100 million euros a year, the officials said, less than the 300 million euros a year envisaged during a meeting of EU leaders last month.

Most of the trade concessions, which will be offered via a unilateral tariff waiver, will be on Pakistan's textile exports, but they will not include bed linen, for which there is local production in the EU.

They will include tariff cuts on Pakistani industrial goods, including ethanol, officials said.

The plan foresees the trade breaks staying in place for three years, provided they are approved by EU governments, the European Parliament and the members of the World Trade Organisation, who must agree to unilateral waivers.

Pakistan, reeling from floods that have displaced millions, has said it urgently needs greater access to EU markets to help stabilise its economy, and has warned Islamist militants could exploit economic crisis and social instability.

EU leaders last month agreed Pakistan should receive unilateral trade breaks and tasked the Commission with drafting a plan.

Leaders also committed to giving Pakistan access to the EU's enhanced trade regime known as GSP+, by 2014, provided it meets criteria on good governance and human rights.

The scope of trade concessions had been uncertain because of competition concerns of European industry groups and fears of opposition by India and Bangladesh, which also compete with Pakistan for exports to Europe. -Reuters

 

[TopCat]

The scope of trade concessions had been uncertain because of competition concerns of European industry groups and fears of opposition by India and Bangladesh, which also compete with Pakistan for exports to Europe. -Reuters

Shoot again.. Bangladesh never raise opposition to Pakistan's or any other countrie's interest rather its Pakistan shouting against Bangladesh all the time, be it in WTO or EU or US market..

 

[Aeon]

EU offers trade-tied aid, suspends import duties
Thursday, 07 Oct, 2010

BRUSSELS: Europe offered a major trade boost to flood-ravaged Pakistan on Thursday, proposing to lift duties on 75 Pakistani imports as part of an aid-linked package designed to ease recovery from the catastrophe.

The unilateral suspension of duties, available for the next three years, concerns goods accounting for 27 per cent of Pakistan's current imports to the EU.

Lifting duties on the products, which include textiles, would result in an estimated increase of European Union imports from Pakistan to the tune of around 100 million euros, the EU said.

European trade commissioner Karel De Gucht said the proposal “will offer a real boost to Pakistan's economic recovery while at the same time take into account sensitivities of EU industries,” which are fearful of preferential treatment for Pakistan's cheaper textiles.

The EU said the products represented only a small portion of such goods imported from Pakistan, currently close to 15 billion euros (20.6 billion doillars).

The package, suggested by Britain, will be presented for approval to member states and the European parliament in the next few days.

Pakistan's catastrophic floods have left 10 million people without shelter.

European leaders last month said “the severity of this crisis demands an immediate and substantial response, taking also into account the strategic importance of Pakistan's development, security and stability in the region.” They agreed to grant Pakistan increased market access to the EU and to promote Pakistan's case to be granted special favours by the World Trade Organization.

There has been concern also that the disaster could promote extremism and fundamentalism in Pakistan.