The Multan Chamber of Commerce and Industry (MCCI) on Friday welcomed the move of the European Union Parliament's International Trade Committee to grant duty-free market access to Pakistan to help the country boost its exports and create job opportunities. He said the GSP Plus status would become effective from January 1, 2014 under which duty on textile exports would be reduced to zero from existing level of 9.6 to 11 percent.
In a statement issued here on Friday, MCCI President Khawaja Muhammad Usman said the approval of the Generalised System of Preferences (GSP) Plus status to Pakistan has proved that Pakistan implemented all international conventions related to human and labour rights and environment and good governance to the satisfaction of the European parliament. "The European parliament has considered the GSP Plus status for 10 developing countries like Pakistan that ratify and implement the international conventions. He said that importers would heave a sigh of relief who were paying 11% levy on their value added products."
The MCCI President said that exporters from various industries in Pakistan are expecting the access to European markets, which promise huge potential for multiplying the country's current exports. He said the grant of the status would create a million jobs for Pakistani youth and boost exports by 1,000 million dollars. He said MCCI has been raising the issue for the last many years and today is an imporc day for Pakistan's business community. He hoped the European parliament in its meeting scheduled for December 10, would finally grant the status. "The last time the GSP status was provided to Pakistan in 2002 during the tenure of military dictator Musharraf."
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