World Trade Organization Council for Trade in Goods approves European Union trade package for Pakistan

Islamabad: Council for Trade in Goods of World Trade Organization at its meeting Wednesday in Geneva unanimously approved a Pakistan-specific EU trade package (Autonomous Trade Preferences which would allow tariff-free export of 75 Pakistani products to EU markets over the next two years. The package will enter into force after it is formally approved by WTO General Council in March, 2012, an official statement here said.

EU Trade Package is aimed at helping Pakistan to deal with economic losses caused by unprecedented floods in Pakistan in 2010. It would help increase Pakistan exports to EU countries and generate thousands of jobs in Pakistan.

“Pakistan is thankful to all WTO member countries for their support. The Government of Pakistan particularly appreciates the European Union and its member states for their commitment to help Pakistan revive and stabilize its economy through trade,” statement said.

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