EU to waive tariffs to help Pakistan

BRUSSELS – The European Union declared Thursday it will temporarily waive World Trade Organization tariffs on key Pakistani imports to help boost the flood-devastated country's economy.
The 27-nation bloc agreed at a summit in Brussels to grant Pakistan immediate, although temporary, import duty relief both as a humanitarian gesture and as a way to help the country prevent Islamic extremists from exploiting economic instability.
"The severity of this crisis demands an immediate and substantial response," the EU said in a declaration.
"A stable, democratic and prosperous Pakistan is key to addressing global issues such as counter-terrorism, nonproliferation or counter-narcotics."