The European Parliament approved yesterday with an overwhelming majority a package granting the EU Autonomous Trade Preferences (ATPs) for Pakistan. The package would allow tariff free export of 75 Pakistani products – mostly textiles – to EU markets until 31 December 2013. The ATPs are expected to become effective around end October 2012 following completion of administrative procedure. The grant of ATPs is in response to President Zardari’s appeal for enhanced market access to the EU, first made during the Pakistan-EU Summit held in Brussels in 2009. Earlier in June 2012, the European Parliament approved a new GSP+ scheme. Under the new scheme Pakistan would be able to apply and if all the necessary conditions are fulfilled, our export to the EU would receive duty free treatment from January 2014.
