Pakistan and European Union on Tuesday agreed on a comprehensive economic partnership, with a focus on increasing the volume of bilateral trade.
This understanding was reached in the fifth meeting of the EU-Pakistan Joint Commission, which was held in Islamabad. The next meeting will be held in Brussels in 2015 with a focus to make further progress on economic partnership.
The EU delegation raised concerns over levy of export duty on certain products. Brussels wants removal of these duties on the plea that these raw materials are in great demand for EU industries.
Like other countries, Pakistan imposed export duty to ensure uninterrupted supply of raw material to domestic industries.
An official statement issued here after the meeting said that the EU and Pakistan welcomed granting of increased market access under GSP+ and expressed the hope that this would help increase Pakistan’s exports to Europe, creating additional economic growth and jobs.
