EU agrees to work on FTA

Wednesday, April 11th, 2012 8:00:06 by

ISLAMABAD, April 10: Pakistan and the European Union have agreed to work on EU-Pakistan Free Trade Agreement (FTA) to promote trade andA investment, Dawn officially learnt on Tuesday.

This agreement is part of the five-year ‘EU-Pakistan Engagement Plan’ starting 2012 under the umbrella of the joint commission and its sub-group and trade dedicated dialogue, official sources said.

According to details of the plan made available to Dawn, the European Union will also consider Pakistan’s eligibility to benefit from the European Union’s GSP-plus as from 2014, on the basis of the GSP-plus regulation of the EU, according to details finalised by Pakistan and the European Union.

The plan envisages improved trade facilitation including simplification and modernisation of customs controls, implementation of WTO codes incorporating those relevant to quality standards, and IPR including geographical indications.

In the energy sector, EU will support Pakistan for implementation of the ‘Integrated Energy Sector Recovery Report and Plan’.

Islamabad News Sources

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