PAKISTAN INCREASINGLY BENEFITTING FROM DUTY-FREE MARKET ACCESS TO THE UNITED STATES (DiplomacyPakistan.com)

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Islamabad, PAKISTAN.

 “U.S. imports from Pakistan beneath the Generalized System of Preferences (GSP) program, which gives duty-free market entry to the US, surged by 49% in 2012, reaching $195 million.  This represents one of many largest will increase amongst all main GSP beneficiary international locations,” stated senior U.S. officers throughout a presentation on the Islamabad Chamber of Commerce and Business. 

Throughout a seminar for members of the Pakistani enterprise group, senior officers from the Workplace of the U.S. Commerce Consultant (USTR) defined how Pakistani exporters can additional benefit from duty-free entry to the US at present accessible for over 3,500 Pakistani merchandise beneath the GSP program.  USTR recognized all GSP-eligible merchandise and highlighted how Pakistani exporters who’re actively searching for potential U.S. consumers can use GSP to extend their exports to the US.

Deputy Assistant Commerce Consultant Invoice Jackson instructed contributors, “Pakistan can develop its duty-free exports to the US much more.  Pakistan exported $3.6 billion value of products to the US in 2012, but solely 5.7% of that quantity took benefit of the duty-free therapy accessible beneath the GSP Program.  Pakistan subsequently has the chance to broaden its exports to the US considerably beneath GSP.”  Citing an instance of how Pakistani exporters can improve gross sales to the US beneath GSP, Mr. Jackson famous that Pakistani exports of gem stones, treasured metals, and jewellery to the US confirmed spectacular development of 300% in 2012 – totaling $32.four million – following a earlier coaching session that raised consciousness about accessible market entry.  Gems, treasured metals, and jewellery are among the many many objects eligible for duty-free therapy beneath the GSP Program.

Mr. Jackson suggested Pakistani exporters of GSP-eligible merchandise that there are a number of methods to take advantage of the accessible tariff benefit.  “First, think about using GSP as a advertising instrument with U.S. consumers.  U.S. importers could also be keen to purchase new merchandise from Pakistan or purchase extra of a specific product in the event that they know that the merchandise is eligible for duty-free therapy beneath GSP.  Many U.S. importers are additionally unaware {that a} product could also be eligible.  Because of this, they usually pay duties on these merchandise even after they don’t want to take action,” he emphasised.

Among the many GSP-eligible merchandise from Pakistan on which duties had been unnecessarily paid in 2012 had been leather-based sports activities gloves, mittens, and mitts; sure non-cotton pillows, cushions, and comparable furnishings; sure athletic articles and gear; and miscellaneous iron and metal articles.  Pakistani exporters can also want to study whether or not there are GSP-eligible merchandise that they’re at present sending to markets aside from the US.

Pakistani exporters in main enterprise hubs together with Karachi, Islamabad, Gujrat, Peshawar, Faisalabad, and Sialkot attended this dwell video-conference presentation by USTR on the Commerce Improvement Authority of Pakistan in Karachi and at many chambers of commerce and trade throughout Pakistan.  The published was a part of the U.S. Mission to Pakistan’s entrepreneurship program, Khushali ka safar – a Journey to Prosperity, which helps Pakistani entrepreneurs.

This initiative is only one a part of a complete U.S. financial development help program which incorporates increasing irrigation by greater than 200,000 acres close to the Gomal Zam and Satpara dams; establishing greater than 1,000 km of roads to attach communities and facilitate commerce; modernizing dairy farms in Punjab; and launching non-public fairness funding funds to gasoline the expansion of small and medium companies.

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