alizahid
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Whether its floods, earthquakes, nukes, trade, arms or aid, Bharat will always oppose anything and everything that favors Pakistan. The latest battle is on allowing Pakistani textile duty-free into the EU.
However this time around, Bharat may find itself isolated in opposing trade concessions to Pakistan. The last three remaining countries that opposed the concessions for Pakistan were Peru and Vietnam Vietnam has withdrawn its objections and Peru is about ready to.
The EU plan unveiled last October said duty suspensions would affect about $1.27 billion (900 million Euros) worth of Pakistani exports to the EU. Pakistan could boost sales to the EU by 100 million euros. The plan would affect mainly textile but also ethanol exports.
The European parliamentary delegation throwing support behind Pakistan has urged the member countries of the World Trade Organisation (WTO) to facilitate duty waiver for Pakistani products. The European Unions plan, known as a unilateral waiver, needs WTO approval and depends on unanimous backing from the trade bodys 153 members.
As Bharat stands alone in opposing the tariff reductions on about 75 itemsit will be under European and world pressure to drop its opposition. In the end Dlehi would look pretty stupid in opposing trade concessions which would help the flood victims of Pakistan. Cotton and textile account for about two-thirds of Pakistans exports, and the textile industry is the main driver of the economy.
The EU proposes to suspend duties temporarily on certain Pakistani goods to help the country recover from last summers devastating floods.Bharat tried to form and group and lead oppositionhowever after Vietnam and Peru declined to help Bharat, it will be standing all by itself. India might make a political conciliatory gesture by allowing Pakistan preferential trade with Europe.
India fails to stop EU duty waiver for Pakistan | Rupee News
However this time around, Bharat may find itself isolated in opposing trade concessions to Pakistan. The last three remaining countries that opposed the concessions for Pakistan were Peru and Vietnam Vietnam has withdrawn its objections and Peru is about ready to.
The EU plan unveiled last October said duty suspensions would affect about $1.27 billion (900 million Euros) worth of Pakistani exports to the EU. Pakistan could boost sales to the EU by 100 million euros. The plan would affect mainly textile but also ethanol exports.
The European parliamentary delegation throwing support behind Pakistan has urged the member countries of the World Trade Organisation (WTO) to facilitate duty waiver for Pakistani products. The European Unions plan, known as a unilateral waiver, needs WTO approval and depends on unanimous backing from the trade bodys 153 members.
As Bharat stands alone in opposing the tariff reductions on about 75 itemsit will be under European and world pressure to drop its opposition. In the end Dlehi would look pretty stupid in opposing trade concessions which would help the flood victims of Pakistan. Cotton and textile account for about two-thirds of Pakistans exports, and the textile industry is the main driver of the economy.
The EU proposes to suspend duties temporarily on certain Pakistani goods to help the country recover from last summers devastating floods.Bharat tried to form and group and lead oppositionhowever after Vietnam and Peru declined to help Bharat, it will be standing all by itself. India might make a political conciliatory gesture by allowing Pakistan preferential trade with Europe.
India fails to stop EU duty waiver for Pakistan | Rupee News
