EU’s proposal for trade aid to Pakistan moves to next stage

LONDON: The European Commission has come forward with a package covering 75 products worth up to 176 million pounds over two years to help Pakistan recover from the flood disaster and bolster political stability.

This emerged from the briefing on Monday by David Martin, Scotland’s most senior member of the European Parliament (MEP), to Glasgow Central MP Anas Sarwar about the latest moves in the European Union (EU) proposal to grant Pakistan privileged access to EU markets.

“The European Commission has come forward with a package covering 75 products which could be worth up to 176 million pounds over two years,” explained Martin who is a member of the European Parliaments International Trade Committee, saying this would mean zero rating tariff covering 27% of Pakistan exports to the EU and would boost Pakistan’s exports by 88 million pounds per year.

The EU is currently Pakistan’s major trade partner (worth 7.6 billion euros) and the main export items are textiles and clothing products which amount to more than 60% of Pakistan’s trade with the EU. app

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