Pakistan's exports to European Union (EU) increased by 30 percent in the first four months (January-April) of current calendar year 2014. This was disclosed during a meeting on Monday, which was presided over by Minister for Commerce Khurram Dastgir Khan.
"Exports to the EU have increased by $572.21 million as goods worth $2,481.83 million were traded in the first four months of 2014 as compared to trade of goods worth $1,909.62 million during the same period last year," said the Commerce Minister. The Ministry of Commerce is co-ordinating with the provinces to sensitise them about the legal requirements of its international trade treaties. Taking a keen interest in the trade incentives under GSP plus, Prime Minister Nawaz Sharif has also tasked the Treaty Implementation Cell to work alongside the Ministry of Commerce as the focal organisation to bring the legal framework of the provinces at a level which fulfils the requirements of GSP plus and other treaties.
"I have conducted a review of GSP plus trade figures and implementation of legal mandates. The Commerce Ministry is coordinating well with the PM Office, federal government and provincial governments," the minister said. He said that the Ministry of Commerce was also coordinating closely with the EU as well as its 28 member countries in order to get their support to enhance Pakistan's exports to EU.
The brisk pace of increase in the country's exports to EU during the first four months of the current calendar year signified that the initial estimate of an increase of one billion dollars during the first year would be achieved well before time, he added. The Minister directed the officers of the Ministry to explore and enhance the exports of non-traditional sectors along with the traditional textile sector so that the country might reap full benefits of these biggest trade incentives.
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