EU Renews GSP+ Status for Pakistan for 2 Years
BRUSSELS, Belgium – Pakistani exporters can enjoy duty free exports to the European Union for the next two years; 2018 and 2019. The European Parliament’s Committee on International Trade (CIT) has agreed to this recently.
Then renewal of Pakistan’s GSP+ status comes on the basis of the country’s first biennial assessment report in 2016 as well as a second biennial assessment that was conducted in Brussels recently.
Progress by Pakistan
The EU parliament showed satisfaction on the progress by Pakistan in enacting new laws and said that it hoped that Islamabad would continue to engage with the EU and ensure to bridge implementation gaps during the next two years, according to media reports in Pakistan.
The CIT also agreed to discuss upgrading Pakistan from a GSP+ beneficiary to a free trade agreement (FTA) partner in future. A similar FTA offer has been made to India. All these are part of the process of monitoring of compliance of GSP+ for next biennial assessment report for 2018-2019.