Wednesday, December 1, 2010

EU tariff decision on 75 tariff lines to help revive Pakistan economy

EU tariff decision on 75 tariff lines to help revive Pakistan economy
 The EU decision to grant Pakistan tariff concessions on 75 tariff lines would help the country to revive the economy in post flood situation.

This was stated by the Federal Minister for Commerce Makhdoom Amin Fahim while talking to his Swedish counterpart Mrs Eva Bjorling who met with the Minister along with sixteen member trade delegation in the Ministry of Commerce.

The flood devastation in Pakistan was of severe nature, and the Swedish government would help Pakistan in this hour of need in sectors of infrastructure and rehabilitation, Mrs Eva Bjorling assured to the Minister.
The delegation was told that Pakistan had a tremendous potential in wind energy sector, and coastal areas of Sindh and Balochistan are ideal for making investment by Swedish companies.

The visiting Minister showed interest to increase investment in areas of IT, power generation and energy, SAAB and Ericson are some of the Swedish companies which have already invested in Pakistan.
Thousands of Pakistanis are getting higher education in Swedish universities as well as doing jobs, and contributing to the economy of Sweden, she said. She showed interest in seeking more skilled labor from Pakistan.

Sweden is one of the important trading partners of Pakistan in EU, and the bilateral trade between the two countries has reached US $ 212 million in 2009-10.

Pakistan exports textile material, rice, carpets, rugs and sports goods to Sweden, and imports machinery parts, chemicals, metals and steels.

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