European Parliament approved the Single Delegated Act under which ten countries including Pakistan are privileged to Generalized System of Preferences Plus (GSP Plus) Scheme. The Act will come into force fromJanuary 1, 2014.
The European Union being Pakistan’s most important trading partner supports the integration of Pakistan with the global economy by granting Pakistan’s exports to the EU reduced tariffs under the EU’s Generalized Scheme of Preferences.
How do Generalized System of Preferences Plus (GSP Plus) status helpful for Pakistan?
The status provides Pakistan duty-free or preferential duty rate access for a total of 3,500 products.It means there will be zero duties on over 90% of all products that Islamabad exports to the bloc of 27 nations.
EU trade concessions will benefit the country’s largest manufacturer and exporter, the textile and clothing industry, the most by allowing its products to compete with those of regional rivals like Bangladesh andSri Lanka, which already have duty free access to the bloc’s market.
About Generalized System of Preferences Plus (GSP Plus) Status
The EU’s “Generalized Scheme of Preferences” (GSP) allows developing country exporters to pay lower duties on their exports to the EU. This gives them vital access to EU markets and contributes to their economic growth.
The “GSP+” enhanced preference means full removal of tariffs on essentially the same product categories as those covered by the general arrangement.
These are granted to countries which ratify and implement internationalconventions relating to human and labor rights, environment and good governance.
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Indian Govt pulls up Army chief for accepting U.S. military honor ‘Legion of Merit’ without its permission
December 17, 2013
The Indian government pulled up the country’s Army chief General Bikram Singh for accepting a ‘Legion of Merit’ ,the sixth highest American military honor, without its approval. The Indian Defense Ministry questioned that the bestowment of the honor was not the part of General Singh’s itinerary during his visit to the U. S., then why he accepted the ‘Legion of Merit’, without prior clearance from the government.
General Bikram Singh is the fifth Indian armed forces officer, to have received the award after Field Marshal Kariappa and first Indian Chief of Army Staff Gen Rajendra Singhji.
What is Legion of Merit?
It is the sixth highest American U.S. Military award which is awarded to both US military personnel as well as to military and political figures of other nations for exceptionally meritorious conduct and services.
Note:As per the norms, any Indian defense forces official has to seek permission from the government to accept foreign honors.