EU Parliament’s International Trade (INTA) Committee has extended the Generalised System of Preferences-Plus (GSP-Plus) status for Pakistan. This will enable Pakistan to continue to enjoy preferential duties on exports for the next two years.
Since January 2014, the GSP-Plus facility was available to Pakistan. As an award for the progress of Islamabad in enacting new laws and developing new institutions for 27 core conventions of GSP-Plus primarily the National Action Plan (NAP) for human rights, GSP-Plus has been extended.
On February 19th, the third biennial assessment report that was published by the European Commission was discussed by the INTA.
It has been recommended by the European Commission and External Action Service to continue the GSP-Plus scheme. Clearly, it has been indicated that the EU authorities that they are satisfied with the third biennial assessment results of the GSP-Plus and now they will focus on the next biennial monitoring cycle.
EU institutions were thanked by the PM’s adviser on commerce. He asked the exporters to capitalize on the opportunity available till 2022.
The Ministry of Commerce commended the efforts of all ministries and departments of the provincial and federal governments along with Azad Jammu and Kashmir and Gilgit-Baltistan governments that assisted and formulated laws.
The commerce division also appreciated the contribution made by the office of the attorney general as ‘head of the treaty implementation cell’ for helping in steering the implementation process of GSP-related conventions.
Adviser to the Prime Minister Razak Dawood tweeted, “This will strengthen our resolve to continue to improve the social and economic conditions of our people,” the adviser said, asking the business community to “diversify your exports to capitalise on this opportunity to the optimum”.