Trade, not aid, best way to economic stability in Pakistan, says Zardari

Tehran, Aug. 30 (ANI): Pakistan President Asif Ali Zardari has said that Pakistani products should be given access to European markets as trade, and not aid, was the best way for Pakistan to ensure economic stability.

Zardari said this in Islamabad during his meeting with Michael Gahler, Member of the European Parliament before his departure for the Iranian capital to attend the XVIth NAM Summit, reports The News.

Zardari also reiterated his call for an early operationalisation of the EU's Autonomous Trade Preferences (ATPs) and Pakistan's inclusion in the GSP+ Scheme.

He expressed hope that the ATP Package would soon be implemented to help Pakistan's economy recover from the losses suffered due to the floods in the last two years.

He said that Pakistan's textile and clothing industry was facing serious obstacles due to high tariffs in the EU market, especially when many of its competitors already have duty free access to the EU market. He welcomed the European Parliament's decision to revise the GSP scheme recommending upward revision of the import vulnerability criterion from one percent to two percent, the paper said.

He said that greater trade access to Pakistan in EU markets would help the country to counter terrorism in line with the Government's three-pronged policy of Development, Dialogue and Deterrence.

He also stressed upon long-term economic engagement by the international community in Afghanistan, which he said was important for sustainable peace of a war-torn country and socio-economic development of the people. (ANI)