KARACHI: Commerce Minister Khurram Dastagir has said that the exports of Pakistan to the European Union rose 20 per cent to $6.38 billion during the first 10 months of 2014 from $5.3bn last year.
During a seminar where the ‘Business Guide for GSP+’ was also launched, the minister said the preferential tariff scheme boosted export of textile, leather goods, footwear and plastic products.
Pakistan’s exports to the 28-nation European bloc was falling before the GSP+ status, he said, particularly when the Drug Related Arrangement was terminated in 2005. As a result tariff concessions granted in certain product categories were withdrawn. It landed Pakistan in a difficult situation as it had to compete with much stronger economies like India, Brazil and China for market share.
