BREAKING NEWS

EU to waive tariffs to help Pakistan

By ASSOCIATED PRESS

SEPTEMBER 16, 2010 23:00

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."

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