Islamabad: The state minister for commerce and textile industryKhurram Dastagir has announced to get full benefits with GSP–plus status as Pakistan ready to export more than 6000 goods to five European countries.
According to a statement, the minister Pakistan will get benefit of one and a quarter billion dollars this year after getting GSP Plus status.
Under the GSP plus status, Pakistani exports will enjoy duty-free access for a period of three years starting from next year to 2017 entering European Union (EU) member states.
It would also give benefit Pakistan’s largest manufacturing and export sectors like textile, clothing and alleviate industry to compete with those of regional players like Bangladesh and Sri Lanka, which have already duty-free access to the EU.
EU approved the GSP plus status for Pakistan with 406 votes in favour out of 751 members. This will allow exporters to enhance their exports to EU member states to the tune of $500 to $600m per annum.
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