A special cell will be created in Faisalabad Chamber of Commerce and Industry (FCCI) to familiarize local exporters with recently introduced Registered Exporter System (REX) in order to facilitate the Pak exports to EU countries under GSP Plus scheme, said Muhammad Saeed Sheikh, President FCCI. Addressing an awareness seminar, he explained the GSP Plus status given to Pakistan in 2014 and told that its basic objectives were to dilute the damages caused to Pak economy due to war on terror.
He told that during 1st year of this facility, Pak exports recorded a phenomenal growth of 23 percent but after that the exports experienced a steep decline. He told that Government of Pakistan has taken a number of steps including uninterrupted electric supply to the industrial sector and declaring five important export sectors zero-rated from July 2016 to mitigate its problems but still the exports are not stable. He appreciated the recently introduced REX scheme and said that it will further facilitate Pak exporters to make their exports to the EU countries without any hassle and unnecessary procedural bottlenecks.
He said that it is actually a self certification system and many European countries are already following it to streamline the exports from Pakistan under GSP Plus to the EU countries. He said that as REX is a new system and many exporters are not fully aware of its modalities, hence Trade Development Authority of Pakistan (TDAP) has arranged this seminar. The FCCI has also decided to setup a cell which will provide much-needed awareness and guidance to the local exporters.