WTO approves EU trade assistance for Pakistan

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WTO approves EU trade assistance for Pakistan

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WTO has approved an EU plan to allow Pakistan to export 75 types of goods of goods duty free.

02 February,2012 09:31 am

A World Trade Organization panel approved a European Union plan to allow Pakistan to export 75 types of goods duty free into the 27-nation bloc to help the South Asian country recover from devastating floods in 2010.Normally, WTO members have to offer all countries the same preferential treatment.But the Geneva-based organizations Council for Trade in Goods agreed Wednesday to let the EU offer the duty-free access on goods such as textiles and industrial ethanol only to Pakistan.The plan covers 27 percent of Pakistans exports to the EU and could last for up to three years if required.The EU has said the move will boost Pakistans exports to the bloc by about €100 million ($132 million) per year compared with 2009.