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The European Parliament adopted (at first reading) on 10 May 2011 in Plenary meeting the amendments introduced earlier by the INTA Committee to the European Commission Regulation’s proposal for EU emergency trade preference measures for Pakistan. What are the effects of that EP vote:
The regulation is conditioned to the approval of the waiver in the WTO (to date, there is no consensus), and the list of 75 customs product lines –mainly in textiles-clothing- could not be extended to more products (without an new agreement of the Parliament);
Measures would be in place for 1 year (instead of 3 proposed by the Commission);
Tariff quotas to be introduced from the entry into force for the most sensitive products
Immediate customs surveillance from the entry into force in order to monitor imports;
Safeguard mechanism will be initiated whenever there is a surge in imports’ volume (2010 level + 20%).
