CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. India To Permit EU Trade Aid To Pakistan

India To Permit EU Trade Aid To Pakistan

by Ulrika Lomas, Tax-News.com, Brussels

21 September 2011


The Indian government is expected to formally notify Pakistan of its decision to withdraw its opposition to a preferential tariff scheme being offered by the European Union (EU) to Pakistan following devastating floods in early 2010.

India was one of three countries, the others being Bangladesh and Turkey, which had raised objections to the proposal at World Trade Organization (WTO) level.

The EU scheme, announced in October 2010, would liberalize 75 tariff lines, accounting for about one quarter of Pakistan's current exports to the European Union (EU), for a three-year period. This would boost exports from Pakistan to the EU by about EUR100m, according to the European Commission.

Products benefiting from the scheme include textiles and industrial products such as ethanol, and while the European Commission said last year that it took into account "both industrial sensitivities in the EU and those of partners in the WTO" when the scheme was drafted, it needs to be approved by WTO members before it can go into place.

Turkey and Bangladesh have since withdrawn actions preventing the tariff reductions from going ahead and reports suggest that India is set to follow suit, with an announcement from the Indian government expected when Pakistan's Commerce Minister Makhdoom Amin Fahim arrives in New Delhi for a two-day official visit starting September 28.

TAGS: Pakistan | tax | India | tariffs | World Trade Organisation (WTO) | trade disputes | Bangladesh | trade | European Union (EU) | Turkey | Europe

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »