After grant of GSP plus by European Union Pakistan’s exports to European Union have increased by 30percent during January-April 2014

Islamabad, June 02, 2014 (PPI-OT): After the grant of GSP plus by the European Union, Pakistan’s exports to EU have increased by 30% during the January-April 2014 as compared to the exports during the same period last year. The Federal Minister for Commerce, Engr. Khurram Dastgir Khan was informed in a meeting that during the first four months of the current calendar year exports to the EU have increased by $ 572.21 million as goods worth $ 2481.83 million are traded this year as compared to goods worth $ 1909.62 million during the first four months of last year.

The Ministry of Commerce is in the process of constant coordination with the provinces to sensitize them about the legal requirements of its international trade treaties. Taking a keen interest in the trade incentives of GSP plus, Prime Minister of Pakistan has also tasked the Treaty Implementation Cell to work alongside Ministry of Commerce as the focal organization to bring the legal framework of the provinces at a level which fulfils the requirements of GSP plus and other treaties.

Ministry of Commerce is in close coordination with the EU as well as with its 28 member countries individually in order to get their support to enhance Pakistan’s exports to EU countries. The brisk pace of increase in Pakistan’s exports to EU during the first four months of the current calendar year signifies that the initial estimate of an increase of one billion dollars during the first year will be achieved well before time.

The Minister directed the officers of the Ministry to explore and enhance the exports of non-traditional sectors in Pakistani exports along with the traditional textile sector so that the country may reap full benefits of these biggest trade incentives of Pakistan’s history.

He further said that Pakistan’s exports have considerable presence and recognition in the markets of Western Europe but there is a need to find markets and improve the image of Pakistani products in Eastern and Southern Europe. The Minister referred to the address of President of Pakistan to the joint session of the Parliament in which the President thanked the EU on behalf of whole nation on the grant of GSP plus to Pakistan.

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