Exports to Spain register an increase of 28percent

Islamabad, March 31, 2015 (PPI-OT): Pakistan’s exports to Spain have increased to US $ 875 million from US $ 686 million in the previous fiscal year registering an increase of 28%. This figure was revealed in a meeting between Commerce Minister Khurram Dastagir and Spanish Secretary of State for Ministry of Foreign Affairs and Cooperation. The minister acknowledged the bilateral trade boost and vowed to expand it further.

Minister Dastagir further added that according to EU statistics, Pakistan’s exports to EU are showing an increasing trend due to GSP-plus facility. During the last one year Pakistan’s exports increased by US $ 1.32 billion registering a 21% increase. The minister highlighted that GSP plus facility has a positive impact on Pakistan economy in general and exports in particular. It is quite encouraging that the business community is making full use of the GSP plus facility.

The Spanish delegates expressed their immense interest in energy, agriculture and infrastructure development. The minister welcomed the Spanish interest and ensured his utmost support and facilitation for investment and new business initiatives. The minister added that the energy sector offer unprecedented avenues for investment especially in alternate energy, as the economy is registering positive growth after remaining stagnant for over a decade.

The Minister stated that Its just because of business friendly policies and dedicated efforts of the government that Pakistan was able to improved its Moody’s rating from negative to positive .Both sides agreed to further strengthen the trade ties and agreed to enhance cooperation through increased interaction among business communities, visa facilitation, trade fairs and exhibitions.

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