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 ISLAMABAD: Europe offered a major trade boost to flood-ravaged Pakistan on Thursday, proposing to lift duties on 75 Pakistani imports as part of an aid-linked package designed to ease recovery from the catastrophe.The unilateral suspension of duties, available for the next three years, concerns goods accounting for 27 percent of Pakistan's current imports to the EU. Lifting duties on the products, which include textiles, would result in an estimated increase of European Union imports from Pakistan to the tune of around 100 million euros, the EU said. European trade commissioner Karel De Gucht said the proposal "will offer a real boost to Pakistan's economic recovery while at the same time take into account sensitivities of EU industries," which are fearful of preferential treatment for Pakistan's cheaper textiles. The EU said the products represented only a small portion of such goods imported from Pakistan, currently close to 15 billion euros (20.6 billion doillars). The package, suggested by Britain, will be presented for approval to member states and the European parliament in the next few days. Pakistan's catastrophic floods have left 10 million people without shelter. European leaders last month said "the severity of this crisis demands an immediate and substantial response, taking also into account the strategic importance of Pakistan?s development, security and stability in the region." They agreed to grant Pakistan increased market access to the EU and to promote Pakistan's case to be granted special favours by the World Trade Organization. There has been concern also that the disaster could promote extremism and fundamentalism in Pakistan. | |