EU extends GSP+ status to Pakistan for four more years
Key points:
- The European Union has extended its GSP+ status to Pakistan for four more years, until 2027.
- The GSP+ status provides Pakistan with duty-free access to the EU market for a wide range of products.
- The extension of the GSP+ status is a significant boost for the Pakistani economy.
The European Union has extended its Generalized System of Preferences (GSP+) status to Pakistan for four more years, until 2027. The decision was announced by European Union Ambassador to Pakistan Riina Kionka during a visit to the Karachi Chamber of Commerce and Industry (KCCI).
“This is a great opportunity for Pakistan to expand its exports to the European Union,” Kionka said. “The GSP+ status provides Pakistan with duty-free access to the EU market for a wide range of products, including textiles, leather, jewelry, and handicrafts.”
Kionka urged Pakistani businesses to take advantage of the GSP+ status by diversifying their export markets beyond textiles. “The EU is a large and growing market,” she said. “There are many opportunities for Pakistani businesses to export their products to the EU.”
She also said that the EU is working to improve trade relations between Pakistan and the EU. “We are committed to helping Pakistani businesses succeed in the EU market,” she said.
The GSP+ status is a preferential trade scheme that provides developing countries with duty-free access to the EU market for a wide range of products. In order to qualify for GSP+ status, countries must meet certain criteria, including commitments to human rights, labor rights, and environmental protection.
The extension of the GSP+ status to Pakistan is a significant boost for the Pakistani economy. It is expected to help increase Pakistani exports to the EU and create jobs in Pakistan.
Key points: The European Union has extended its Generalized System of Preferences (GSP+) status to Pakistan for four more years, until 2027. The decision was announced by European Union Ambassador to Pakistan Riina Kionka during a visit to the Karachi Chamber of Commerce and Industry (KCCI). “This is a great…