The EU Will Provide Preferential Policies For Pakistan'S Exports.
Pakistan business community welcomes the EU's proposal to allow 75% of Pakistan products to enter customs free.
EU market
But at the same time, on Friday, the business community asked EU leaders to consider offering long-term preferential policies instead of just three years. Bedsheets and T-shirts should also be included in the list of tariff free access products.
On Thursday, the European Union announced its draft proposal. According to the EU's trade assistance program for flood victims, the EU will allow 900 million euros (US $1 billion 300 million) of Pakistan goods to be duty-free into the EU market next year.
About 65% of the 75 commodities included in the draft proposal are textile products.
All Pakistan
Textile mill
Anees-ul-Haq, Secretary General of Punjab, said that the floods in southern Punjab and Sindh province resulted in damage to 1 million 500 thousand bales of cotton and caused heavy losses to Pakistan's textile industry.
He said Pakistan products were exempt from customs duties and entered the international market.
It will create more employment opportunities for Pakistan, and will greatly promote the development of the textile industry.
EU Trade Commissioner Carlo Teguh Hurt (Karel De Gucht) said the move was meant to help Pakistan recover from the devastating floods and maintain political stability.
On the other hand, Pakistan has agreed to accept the repatriation of illegal immigrants from EU countries.
Trade
Most of the preferential products are textiles, but the main products in Pakistan do not enjoy preferential tariff reduction policies.
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