President, Karachi Chamber of Commerce and Industry (KCCI), Mohammad Haroon Agar has said that it was heartening to note that EU leaders are supportive of the proposal to accommodate Pakistan in new GSP Plus initiative from 2014 onwards.
Speaking at a public private dialogue (PPD) on "Policy Reforms to Maximise Benefits from the European Union GSP plus Scheme" jointly organised by Pakistan Institute of Trade and Development, International Trade Centre (ITC) and KCCI at a local hotel, he said that Pakistan was fortunate to be a preferred and strategic economic partner of European Union.
He noted that Pakistan enjoyed GSP Plus from 2002 to 2005, but after expiry of that period, the EU did not renew this package and hence Pakistan's trade was discriminated. He said Pakistan needs to enhance export regime and to be able to maintain share in the global marketplace. "We at KCCI strongly believe that our country need trade not aid." He noted with appreciation that EU-Pakistan bilateral trade exceeded 8 billion Euros, ranking the EU as Pakistan's first trading partner.
The president expressed his believe the EU Autonomous Trade Preferences (ATPs) enforced from November 15, 2012 will prove favourable to multiply bilateral trade. He expressed the hope that Pakistan which was already enjoying GSP, would accomplish GSP plus under the new regime to be enforced from January 2014.
Haroon Agar said that the EU fund of 15 million allocated for trade diversification is a productive and commendable initiative for Pakistani exporters and the country. During discussing participant pointed out that Pakistan has signed 27 international conventions and it is qualifying for GSP plus depend on Pakistan's record of implantation of these conventions.
They said that GSP should not be confused with the Autonomous Trade Preference (ATP), approved in 2012 on duties from 75 products from Pakistan to help the country to recover from the economic effects of the 2010 and 2011 floods. These preferences cover about 27 percent of all Pakistan trade with EU. These separate measures have entered into force in November this year and will apply until December 2013.
They expressed that Pakistan can meet the conditions related to human rights, labour rights and environment if proper effecters are made They expressed hope that Pakistan may qualify and benefit from GSP plus in 2014, this will generate additional space for exports in the long run for Pakistan, in particular to the value added textile sector.
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