On Friday, the Minister of Finance, Muhammad Aurengzeb, expressed on Friday the government’s commitment to support the companies of the European Union (EU) in Pakistan and facilitate their operations, which included guaranteeing the timely repatriation of dividends and profits, state property. Pakistan radio reported.
In January, exports to European countries grew by 8.62 percent in the first five months of fiscal year 2015, promoted by greater shipments to Western states. Pakistan exports to the EU increased to $ 3,866 billion in July to November, compared to $ 3,559 billion a year earlier, according to the data of the State Bank of Pakistan.
The EU is the second largest commercial partner of Pakistan, with GSP+ Status that gives tax free access or minimum access. However, the scheme requires tangible progress in 27 international conventions that cover human and labor rights, environmental protection, climate change and good governance.
Speaking to the European Union ambassador, Riina Kionka, in Islamabad, Aurengzeb expressed her appreciation for the support of the EU to Pakistan, particularly the importance of the GSP Plus installation.
He stressed that GSP+ had been critical for Pakistan’s efforts to boost exports -led growth.
“The two parties reaffirmed their shared commitment to improve economic and commercial ties between Pakistan and the European Union and create a prosperous and mutually beneficial business environment for both parties,” the report said.
Dr. Kionka emphasized that European companies are increasingly seeing Pakistan as a center for possible commercial opportunities, according to the report.
