ISLAMABAD: The European Union package to Pakistan is not only an economic bonanza but also a diplomatic triumph for the democratic government of Prime Minister Syed Yusuf Raza Gilani as it will dispel the erroneous impression that Pakistan is isolated in the world.
"The WTO/EU package provides a fresh breather to our industry plagued by energy crisis and related stumbling blocks.
The agreement will fetch an additional export income of 400 million euros to our exporters" BA Malik a former envoy and an analysts told APP. He observed that Pakistan's the total export volume to EU market is expected to rise to 20 percent above the current figures.
Besides, he said an extra earnings the concession will provide our manufactures an incentive to improve their export quality in a wide range of products.
"In a cutthroat and ruthless competition among exporters from around the world Pakistani counterparts now face a daunting challenge to excel in performance and quality", he observed.
He said that World Trade Organization (WTO) and EU have given sympathetic consideration to the needs of our export industry the responsibility of our manufacturing sector has increased manifold.
Malik further said that the hand of friendship extended by EU and WTO to democratic Pakistan must be reciprocated by an expression of gratitude and a marching performance.
Highlighting the diplomatic advantages of the facility, he said that in addition to economic gains the package provides ample space to Pakistan in the diplomatic arena.
Besieged by recurrent natural disasters and a loss of over 70 billion dollars in the war against extremism our economy stands a good chance to recover due to the largess of our EU trading partners, he remarked.
He said that trading with the 27- member EU block will also benefit our exports to the rest of the world. "As our neighbours including India and Bangladesh have, after initial reluctance ,supported our quest for concessions and a level playing field the chances of enhanced trade within the SAARC region look fairly bright", he remarked.
The EU package, he said may well improve the currently bleak outlook for a more cooperative South Asian region. "A peaceful and economically integrated South Asia of course is extremely important for us,the nuclear armed region and the world", he remarked.
In a nutshell, he said the EU initiative can also be interpreted as a success of Pakistan's foreign policy. Mr.Malik added that another bye product of this package is enhanced prestige of Pakistan among the comity of nations.
He expressed the hope that it will also help sell a softer image of the country infested by extremism and related problems. "The unexpected support of India for the EU initiative shows that our eastern neighbour is having second thoughts about normalization of Indo Pak relations which is a win-win situation for the two countries", he remarked.
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