Pakistan will continue availing tariff preferences in EU under GSP Plus, said the Ministry of Commerce.
Advisor to Prime Minister on Commerce and Industry Razzak Dawood took to Twitter on Friday and announced that Pakistan will continue to enjoy tariff preference in EU under GSP plus.
This would strengthen our resolve to continue to improve the social and economic conditions of our people. I urge the business community to diversify their exports to capitalise on this opportunity to the optimum. 2/2 @aliya_hamza @pid_gov @appcsocialmedia @PTVNewsOfficial
— Abdul Razak Dawood (@razak_dawood) March 6, 2020
The 3rd Biennial Assessment of GSP was published by the European Commission on 10th February, 2020.
The ministry issued a statement saying that as per GSP Regulation, the commission and European External Action Service (EEAS) has to submit a report to the European Parliament and European Council on the performance of GSP Scheme and the status of compliance of GSP beneficiary countries on the 27 international conventions covered under the Regulation.
On the economic front, Pakistan was a significant beneficiary of the benefits availed by 9 GSP Plus beneficiary countries. Besides Pakistan, other beneficiaries of GSP Plus include Armenia, Bolivia, Cape Verde, Kyrgyzstan, Mongolia, Philippines, and Sri Lanka. Out of the total export of 6.739 billion euros of Pakistan to the EU in 2018, exports worth 5.885 billion euro availed tariff concessions.
As far as implementation of 27 international conventions is concerned, the report appreciated Pakistan in taking positive steps in the areas of climate change, forestation under billion tree tsunami project, improved vigilance to combat illicit narcotics and wildlife trade, political and administrative reforms to integrate erstwhile Federally Administered Tribal Areas (FATA), social protection initiatives like Ehsaas Program, promotion of Inter-Faith Harmony including opening of Kartarpur Corridor and legislation to ensure the rights of women, children, and transgender.
”Pakistan will continue to engage with the European Commission under the GSP Regulation framework and cooperate in their monitoring efforts,” read the released statement.
Pakistan is totally committed to implementing the 27 international conventions, which is our constitutional obligation and blends well with the people-centric priorities of the Government. It is an ongoing process and Pakistan is slowly and surely heading towards the common objectives.
Since the grant of GSP Plus in 2014, Pakistan’s exports to the European Union have enhanced from 4.538 billion euros in 2013 to 7.492 billion euros in 2019, registering an increase of 65%.
The main sectors that benefitted from GSP Plus have been textile and garments which, besides earning foreign exchange for the country, provided employment opportunities, especially for females.
The ministry of commerce in an official statement stated that on behalf of the Government of Pakistan, MOC takes this opportunity to convey the gratitude to the European Union for providing this unilateral trade concession to Pakistan. MOC hopes that the business community will capitalize further on this trade enhancement opportunity.
Great,I am also praying for EU especially Italy to get free from Corona-virus hope things will get better there.