Baby Leone
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is to take up Bangladesh objection on Pakistans entry for European Union (EU) trade concession on South Asian Association for Regional Cooperation (SAARC) platform.
The business community regrets the Bangladesh move to go against the Pakistan for acquiring duty free exports of 75 items in EU countries.
Talking to Daily Times, Dr Mirza Ikhtiar Baig, Federal Advisor on Textile, government of Pakistan, Ghulam Ali President FPCCI and Shakeel Ahmad member cotton committee on Karachi Cotton Association (KCA) were of the view that Bangladeshs step was a sad affair for Pakistan business community in particular and people in general.
Bangladesh objected at World Trade Organisation (WTO) on EU trade concession to Pakistan.
Initially India, Bangladesh and Sri Lanka objected to EU trade concession to Pakistan.
Afterwards India has withdrawn its objection at the recent Pak-India commerce ministers meeting in Delhi, thus paving way for Pakistans duty free export of 75 items, Baig said.
He said Sri Lanka and Bangladesh had also promised to withdraw their objection.
Baig also spoke to Anis ul Haq, President SAARC during a meeting and asked him to take up the issue on SAARC forum.
He said Prime Minister and Foreign Minister of Pakistan have already taken up this matter at SAARC Conference in Maldives in their sideline meetings. Bangladesh will eventually withdraw their objection at WTO. He said duty free exports to EU would benefit Pakistan with about euro 1 billion additional exports in the next 3 years.
Tariq Sayeed former President SAARC has also been asked to talk on this matter with the members of SAARC countries. Bangladesh is already enjoying duty free market access to EU on account of Least Developed Country (LDC) and is already exporting about euro 10 billion of textile products to EU countries till June 2011, Shakeel Ahmad said.
Total exports from Pakistan to EU during the same period stood at euro 3.3 billion out of which, euro 900 million comes from the 75 items for which duty free market access is allowed by the EU, he maintained.
The duty free exports of 75 items out of which 65 are textile items to EU to support countrys economy affected with devastated flood. Several textile products manufacturing units of Pakistan preferred Bangladesh and set up their textile units there, he added.
Ahmad said due to incentives, including uninterrupted power supply and tax-free status for the first ten years and tariff-free access to markets in the European Union, Pakistan businessmen made Bangladesh as a business partner.
On this stage it is not fair we are being opposed by a neighbour country for which business community of Pakistan preferred it for making huge investment and setting up of industry by ignoring Dubai and other Muslim countries, he added. Bangladesh also buys raw cotton from Pakistan for its textile products and cotton traders of Pakistan always offered cotton to Bangladesh on competitive rates in order to allow it to compete in international market with less cost.
---------- Post added at 12:45 PM ---------- Previous post was at 12:43 PM ----------
seems something fishy on Pakistan's eastern side
The business community regrets the Bangladesh move to go against the Pakistan for acquiring duty free exports of 75 items in EU countries.
Talking to Daily Times, Dr Mirza Ikhtiar Baig, Federal Advisor on Textile, government of Pakistan, Ghulam Ali President FPCCI and Shakeel Ahmad member cotton committee on Karachi Cotton Association (KCA) were of the view that Bangladeshs step was a sad affair for Pakistan business community in particular and people in general.
Bangladesh objected at World Trade Organisation (WTO) on EU trade concession to Pakistan.
Initially India, Bangladesh and Sri Lanka objected to EU trade concession to Pakistan.
Afterwards India has withdrawn its objection at the recent Pak-India commerce ministers meeting in Delhi, thus paving way for Pakistans duty free export of 75 items, Baig said.
He said Sri Lanka and Bangladesh had also promised to withdraw their objection.
Baig also spoke to Anis ul Haq, President SAARC during a meeting and asked him to take up the issue on SAARC forum.
He said Prime Minister and Foreign Minister of Pakistan have already taken up this matter at SAARC Conference in Maldives in their sideline meetings. Bangladesh will eventually withdraw their objection at WTO. He said duty free exports to EU would benefit Pakistan with about euro 1 billion additional exports in the next 3 years.
Tariq Sayeed former President SAARC has also been asked to talk on this matter with the members of SAARC countries. Bangladesh is already enjoying duty free market access to EU on account of Least Developed Country (LDC) and is already exporting about euro 10 billion of textile products to EU countries till June 2011, Shakeel Ahmad said.
Total exports from Pakistan to EU during the same period stood at euro 3.3 billion out of which, euro 900 million comes from the 75 items for which duty free market access is allowed by the EU, he maintained.
The duty free exports of 75 items out of which 65 are textile items to EU to support countrys economy affected with devastated flood. Several textile products manufacturing units of Pakistan preferred Bangladesh and set up their textile units there, he added.
Ahmad said due to incentives, including uninterrupted power supply and tax-free status for the first ten years and tariff-free access to markets in the European Union, Pakistan businessmen made Bangladesh as a business partner.
On this stage it is not fair we are being opposed by a neighbour country for which business community of Pakistan preferred it for making huge investment and setting up of industry by ignoring Dubai and other Muslim countries, he added. Bangladesh also buys raw cotton from Pakistan for its textile products and cotton traders of Pakistan always offered cotton to Bangladesh on competitive rates in order to allow it to compete in international market with less cost.
---------- Post added at 12:45 PM ---------- Previous post was at 12:43 PM ----------
seems something fishy on Pakistan's eastern side
