Business Community of Pakistan shows Satisfaction on Pak-EU recent Strategic Dialogue and Expect more Cooperation from European Union

Islamabad, June 07, 2012 (PPI-OT): Sheikh Humayun Sayeed, Chairman FPCCI Standing Committee on Diplomatic Affairs and former Vice President of FPCCI in a press statement expressed satisfaction on the recent Pakistan and European Union Strategic Dialogue.

He commended the Pakistan foreign office for handling the dialogue in a befitting manner. He said that recent dialogue on Autonomous Trade Preferences (ATPs) for Pakistan offered by the EU will always be cherished by Pakistan as this offer came at a moment when Pakistan was hit by devastating flood. Majority of the districts in Sindh province were terribly hit. He further added that the ATPs will boost Pak-EU trade relations.

Sheikh Humayun Sayeed stated that Generalized System of Preferences plus (GSP+) should also be offered to Pakistan because Pakistan is a major of textiles to EU. Pakistani textile products are famous among both local residents as well as Pakistani diaspora.

The European Union remains Pakistan’s largest trading partner receiving 18 % of Pakistan’s exports and providing 9% of its total imports. The overall volume of trade between the EU and Pakistan was almost US$ 1 billion in the year 2010-11 and balance of trade was in Pakistan’s favour.

While appreciating the formation of Pak-EU Steering Committee on Counter-terrorism he also appreciated EU on the acknowledgment of the sacrifices made by Pakistan against the war on terror. He also strongly proposed that the Steering Committee on Pak-EU Economic and Trade issue should have private-sector representation through the FPCCI.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332

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