On Friday, Prime Minister Shaybaz Sharif affirmed the commitment of Pakistan to strengthen relations with the European Union, which confirms the continuous benefits of the generalized plan for the preferences plus (GSP+) for both sides.
The Prime Minister praised the mutual relations, and this highlighted this during a meeting with the European Union Ambassador, Dr. Reina Kionica, who called for him at the Prime Minister’s home.
The European Union Ambassador briefed the Prime Minister on the recent visits by the European Union delegations to Pakistan as well as the upcoming European Union’s associations.
The Prime Minister welcomed the holding of the first Pakistani-European Union work forum in Islamabad, to be held in May, and confirmed the full support in making the event successful.
At the beginning of the meeting, the Prime Minister thanked the European Union’s ambassador for expanding my condolences for the recent terrorist attack on the Jafar Express train in Balochistan.
On Tuesday, dozens of militants of the Balochistan Liberation Army (BLA) detonated a railway path and assaulted the Javar Express, which carries hundreds of passengers, from Polan County in the province.
The terrorists consulted 21 passengers, while their rest were rescued by the Pakistani security forces when the hostage operation was completed later on Wednesday.
The Prime Minister reaffirmed his intention to eliminate terrorism from the country during the meeting, which also covered various aspects of Pakistani relations and the European Union, including discussions on human rights, trade and investment.
Pakistan was awarded the case of GSP+ on January 1, 2014 after the country encountered 27 international agreements and is committed to its implementation.
GSP+ European Union is a special arrangement for incentives to enhance good governance and sustainable development by facilitating trade.
Incentives give the definitions that are issued zero or a preference for Pakistan over nearly 66 % of tariff lines, which enhances the country’s ability to export to the European Union market.
GSP+ has proven to be the pivotal bilateral trade relations in the European Union. From 2014 to 2022, Pakistan’s exports to the European Union increased by 108 %, while imports from the European Union increased by 65 % and the total trade volume increased from 8.3 billion euros in 2013 to 14.85 billion euros.
The country’s clothes, owls, Terry towels, socks, leather, sports and surgical goods, and similar products to the European Union market that benefit from GSP+concessions.
Earlier in the day, the European Union Ambassador, the Minister of Finance, Senator Mohamed Orangazib, met in the Finance Department to discuss the future of the trade facility in the generalized preference system, among other things.
Displaced interaction in a set of issues of mutual interest, especially on strengthening trade and investment relations between the two sides, according to an official statement.
Aurangzeb is highlighted that GSP+ was a crucial empowerment factor for Pakistan’s efforts to advance the export -led growth.
Both officials circulated about the opportunities of European companies in Pakistan, and we urged the creation of an empowerment investment climate for the increasing appetite for expansion.
Dr. Kiona, Minister of Finance, has reported that the European Union has already identified more than 300 European companies working in Pakistan, with the belief that many of them are present.
She emphasized that European companies were increasingly considered Pakistan as a center for possible commercial opportunities, especially in the light of the next forum.
The minister also stressed the need to follow a more active approach in communicating with European capitals for constructive participation in major issues, including the continuation of the GSP+ facility, which is vital to Pakistani trade relations with the European Union in the coming years.
