Pak­istani’s ex­ports to EU in­crease to $7.54b in 2014

The Pak Banker - - NATIONAL -

Pak­istani's ex­ports to Euro­pean Union (EU) wit­nessed an in­crease from US$ 6.22 bil­lion dur­ing 2013 to US $ 7.54 bil­lion in 2014. As a re­sult of GSP Plus, Pak­istan's ex­ports to EU reg­is­tered an in­crease of US$ 1.32 bil­lion in one year which con­notes an in­crease of 21 per cent. Pak­istani ex­ports grew by 9.42 per cent for the pe­riod Jan­uaryOc­to­ber-2015 as com­pared to same pe­riod in 2014 in terms of Euros, in­for­ma­tion is­sued by Com­merce Divi­sion re­vealed. The Min­istry said as a re­sult of GSP Plus du­ties on prod­ucts orig­i­nat­ing from Pak­istan have been with­drawn since 1st Jan­uary,

2014. Pref­er­en­tial rate pol­icy was ap­pli­ca­ble for Pak­istan be­fore Jan­uary 1, 2014 dur­ing which du­ties upto 12.4 per cent were ap­plied on tex­tile prod­ucts, 6.4 per cent on Leather and Footwear prod­ucts etc. How­ever, at the mo­ment, no du­ties are be­ing ap­plied on prod­ucts orig­i­nat­ing from Pak­istan in EU.

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