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— EU confirms continued trade support, announces first-ever EU-Pakistan Business Forum
— Pakistan’s GSP+ extension till 2027 boosts exports amid ongoing rights monitoring
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday reiterated Pakistan’s commitment to deepening cooperation with the European Union, particularly in trade and investment, with a special focus on maximising benefits under the GSP+ scheme.
According to a statement issued by the Prime Minister’s Office, the premier made these remarks during a meeting with EU Ambassador to Pakistan Raimundas Karoblis, who called on him in Islamabad. PM Shehbaz welcomed the envoy and reaffirmed Pakistan’s desire to strengthen collaboration with the EU across a wide range of areas, including trade, investment, development, security, migration and climate change.
The prime minister underlined the critical role of the EU’s Generalised Scheme of Preferences Plus (GSP+) in boosting bilateral trade, saying Pakistan was keen to work closely with the bloc on mutually beneficial trade enhancement initiatives through the scheme.
He also expressed satisfaction over the seventh round of the Pakistan-EU Strategic Dialogue held in Brussels in November last year, terming it an important step in further consolidating relations.
EU signals continued engagement with Pakistan
Ambassador Karoblis thanked the prime minister for the warm reception and conveyed good wishes from the EU leadership. He assured PM Shehbaz of his commitment to strengthening Pakistan-EU relations across all spheres.
The ambassador said the EU would continue to engage closely with Pakistan to enhance trade under the GSP+ framework, as well as through initiatives such as the first-ever EU-Pakistan Business Forum, scheduled to be held in April.
GSP+ gains and monitoring framework
Pakistan was granted GSP+ status by the EU in 2014, leading to a significant surge in exports, particularly textiles, which recorded a 108 per cent increase due to duty-free access on a large portion of tariff lines.
In October 2023, the European Parliament unanimously approved the extension of GSP+ for developing countries, including Pakistan, until 2027. Pakistan has ratified all 27 international conventions required under the scheme, covering human rights, labour rights, good governance and environmental protection.
While the EU continues to monitor implementation in key areas such as enforced disappearances, torture prevention, freedom of expression and minority rights, it welcomed Pakistan’s progress last month towards fulfilling its GSP+ commitments.
