India supports EU Plan to boost Pakistani textile exports

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Government of India would support the European Union’s plan to enhance textile exports from Pakistan’s flood-hit areas, by offering tax privileges. This was stated by Minister of Commerce and Industry Anand Sharma during a meeting with Pakistan’s Minister for Trade Makhdoom Amin Fahim.

India was earlier against the EU proposal because of pressure from local textile lobby, but the direct support by the Central Government is being seen by both the countries as a step towards improving bilateral relations.

The trade ministers of both the countries met after a long gap of 35 years and the discussions were termed as candid and constructive.

India consenting to back the EU plan would facilitate waiver of duties levied by the EU on several Pakistani textiles and other items like ethanol at the earliest by January 2012.

Mr. Anand Sharma stated that India would back and constructively support Pakistan when the matter is taken up during the next meeting of the World Trade Organisation.

Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=103744

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