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19 May 2012 02:28AM

EU unveils details of Pakistan tariff concessions

20 Oct 10 ,  just-style.com
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The European Commission has unveiled its formal proposal for the suspension of European Union (EU) import duties on 75 tariff lines of export items from Pakistan for the next three years, with the aim of boosting EU imports by EUR100mn (US$140mn).

 

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“This proposal will offer a real boost to Pakistan’s economic recovery...,” said EU trade Commissioner Karel De Gucht.

 

Liberalized items would mostly consist of clothing and textiles, which are at the core of Pakistan’s export industry, and make up 60% of its exports to the EU.

 

Examples of items to have their tariffs dropped include knitted or crocheted gloves, with regular duties of 6.4 % to 8%, and women’s cotton garments, which attract 9.6% to 12%. Lines covered by the deal also include many yarns and cotton fabrics, and a wide range of knitted and woven clothes.

 

The suspension of duties on specified imports will apply from 1 January 2011, provided approval is secured at the EU Council of Ministers.

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