Minister of State for Commerce‚ Textile and Privatization Engineer Khurram Dastgir Khan has said GSP Plus status will provide Pakistan a level playing field to compete with other regional competitors in European markets.Addressing a news conference in Islamabad today‚ he said economic diplomacy of foreign and commerce ministries have done an excellent job in securing this status‚ which will help enhancing the country’s trade to European Union up to one billion US dollars.
Dastgir said this relaxation will wave off extra 9.6 percent duty on textile sector‚ which the other competitors were already enjoying.
He said final approval will be given by the EU parliament. He thanked all the stakeholders involved in lobbying for Pakistan including Pakistan’s envoys in all EU capitals.
Dastgir said through this incentive Europe has extended a great support to Pakistan in fighting against extremism.
He said Pakistan is also doing efforts in finding new trade markets in the world including Africa and other continents. He said recently Pakistan and China has deliberated on establishing joint textile ventures in Pakistan.
