ISLAMABAD, Pakistan: Pakistani’s exports to European Union (EU) witnessed an increase from US$ 6.22 billion during 2013 to US $ 7.54 billion in 2014.
As a result of GSP Plus, Pakistan’s exports to EU registered an increase of US$ 1.32 billion in one year which connotes an increase of 21 per cent.
Pakistani exports grew by 9.42 per cent for the period January-October-2015 as compared to same period in 2014 in terms of Euros, an information issued by Commerce Division revealed.
The Ministry said as a result of GSP Plus duties on products originating from Pakistan have been withdrawn since 1st January, 2014. Preferential rate policy was applicable for Pakistan before January 1, 2014 during which duties upto 12.4 per cent were applied on textile products, 6.4 per cent on Leather and Footwear products etc.
However, at the moment, no duties are being applied on products originating from Pakistan in EU.
