LCCI welcomes EU Parliament’s Trade Committee move to grant duty free access to Pakistan

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday welcomed EU Parliament’s International Trade Committee move to grant duty free market access to Pakistan that would help give considerable boost to exports and create new jobs in the country.

In a statement issued here, the LCCI President Engineer Sohail Lashari, Senior Vice President Mian Tariq Misbah and Vice President Kashif Anwar said that approval of GSP Plus status to Pakistan by a high powered European Parliamentary Committee has proved all international conventions relating to human and labour rights, environment and good governance have been implemented by the Pakistan to the satisfaction of the European Parliament.

“The European Parliament is considering the GSP Plus status for 10 developing countries in all and is granted to those countries that ratify and implement international conventions.”

The LCCI office-bearers said that exporters from various industries in Pakistan were anxiously hoping for access to European markets, which promises huge potential for multiplying the country’s current exports.

They said that grant of European Union’s GSP+ to Pakistan will create a million jobs for Pakistani youth and boost exports by $500 million. They said that the Lahore Chamber of Commerce and Industry has been raising the issue for the last many years and today is an historic day for Pakistan’s business community. This is a great opportunity that needs to be tapped up to its true potential, the LCCI office-bearers added.

They expressed the optimism that the European Parliament in its meeting scheduled for December 10, 2013 would finally grant the status.

EU Parliament’s International Trade Committee had voted 17-12-1 in favour of Pakistan’s inclusion in GSP Plus countries.

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