Office-bearers of Multan Chamber of Commerce and Industry (MCCI) have welcomed positive indications on trade concessions by the European Union (EU) to help Pakistan's economy recover from losses caused by floods. MCCI's President Mian Anis A Sheikh said a dialogue was already underway in Brussels between representatives of the European Council, Commission and Parliament and was likely to bear a positive outcome for Pakistan leading to an increase in its exports.
EU foreign policy chief Baroness Catherine Ashton is visiting Pakistan for launching the EU-Pakistan Strategic Dialogue, which is expected to lead to a five-year Engagement Plan for strengthening bilateral partnership. The purpose of initiating the strategic dialogue was to transform trade-focused ties to a strategic partnership, which would bring political and security issues to forefront. The MCCI president said that the EU Council had proposed autonomous trade preferences (ATP) to help Pakistani economy, paving the way for GSP-plus trade preferences for Pakistan in 2014. The ATP package provides for zero-tariff import of 75 products from Pakistan. The package got WTO waiver in February after remaining held up for months because of India's objections.
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