Last Updated on Tuesday, 30 November 1999 05:00 Written by Administrator Thursday, 23 May 2013 09:55
LAHORE: Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Chairman Sajid Salim Minhas has urged the PML-N-led government to prioritise Pakistanís qualification for the duty-free exports status to the 27-member European market under the new generalised system of preferences (GSP) plus scheme.
The EU is Pakistan largest trading partner with an annual trade volume of over 10 billion euros. If Pakistan qualifies for the GSP plus, it would help Pakistani companies to benefit from zero tariffs on all products being exported to the European Union.
The PRGMEA chairman observed that the move would strengthen the countryís economy and improve its foreign exchange reserves. Minhas requested the new government to hire competent lawyers to plead Pakistanís case and effectively negotiate with the EU to obtain GSP plus in 2014.
He went on to add that it is unfortunate that Pakistan still has to submit at least five more progress reports for the application to be processed by the EU. ďThese reports relate to human rights, racial biasness, gender discrimination, covenants on civil, political, economic, social and cultural rights,Ē he said, adding that the human rights ministry, which currently falls under the law ministry, is dragging its feet and delaying matters unnecessarily.
A foreign team of lawyers, hired by the previous government, will need to present these reports to fight Pakistanís case for GSP plus effectively, he added.
Courtesy: †The News
Forex open Market rates & comments Archive