EU trade pact with Pak still to be finalised

The European Union today said that while EU trade preferences for Pakistan have been cleared in the European Parliament's trade committee, a final decision is still pending.
The International Trade Committee of the European Parliament had on November 5 approved the Single Delegated Act which aims to give greater trade access to ten countries, including Pakistan under the Generalised Scheme of Preferences (GSP Plus).
The Single Delegated Act will now have to be approved by the European Parliament in December.
If approved by the European Parliament, the Act will come into effect from January 1, 2014.
A statement released by Pakistan's Ministry of Foreign Affairs had said that in the run up to the voting in the Trade Committee, the Ministry and its embassies abroad, in collaboration with the Ministry of Commerce, had run a campaign to enlist support by the EU governments and members of European Parliament.

"The approval of the GSP Plus reflects the commitment of the European Union to its relations with Pakistan," it said.

The EU delegation to Pakistan issued a statement making it clear that a final decision is still pending.
"I welcome that the GSP+ package has now passed an important test of the European Parliament's Committee on International Trade," EU Ambassador to Pakistan, Lars-Gunnar Wigemark was quoted as saying.
"If granted these trade preferences will have a very positive effect on Pakistan's trade with the European Union and create new opportunities for Pakistani companies as well as jobs for many Pakistanis," Wigemark said.

However, he added that before the decision to grant GSP+ to Pakistan can be considered as final, "We still need to wait and see if there will be a vote in the plenary session of the European Parliament in December."
"If GSP+ is granted to Pakistan by the end of this year it will be essential that all the 27 conventions on human rights, labour standards, environment and good governance, which are part of this system for special trade preferences, are fully implemented by Pakistan," he said.
The other countries proposed for GSP+ and which are part of the same decision are Armenia, Bolivia, Cape Verde, Costa Rica, Ecuador, Georgia, Mongolia, Paraguay and Peru.