UK to Roll Out its Own GSP Scheme for Developing Countries

The United Kingdom (UK) will roll out its own GSP scheme for developing countries including Pakistan, said Advisor to Prime Minister on Commerce and Industries Razak Dawood.

The Advisor took to Twitter on Monday saying that UK’s Foreign and Commonwealth Office (FCO) has assured the Ministry of Commerce that post-Brexit, GSP+ concessions for Pakistan will continue till December 31, 2020.

“UK will then roll out its own GSP scheme for developing countries including Pakistan”, said Dawood, adding that UK has been Pakistan’s top export destination with over 90 percent exports under GSP+. The Advisor further said that discussions on bilateral arrangements are underway.

Last week Dawood announced that Pakistan will continue to enjoy tariff preferences in the EU under GSP+. He thanked EU institutions and all relevant federal ministries and provincial departments of Pakistan, steered by Treaty Implementation Cell of Ministry of Commerce to meet GSP+ obligations.

He said this will strengthen the government’s resolve to continue to improve the social and economic conditions of the people. He urged the business community to diversify its exports to capitalize on this opportunity to the optimum.

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