The European Parliament of the European Union has opted to extend theGeneralised Scheme of Preferences-Plus (GSP+) rules until 2027, asannounced by the commerce minister on Thursday. Gohar Ejaz, in a tweet onX, formerly known as Twitter, mentioned that the European Council isexpected to grant final approval for this extension shortly.
Back in July of this year, the European Commission proposed a four-yearextension of Pakistan’s GSP+ status as a precautionary measure since thecurrent incentive was set to expire at the end of this year. The GSP+scheme initially took effect on January 1, 2014, with Germany, theNetherlands, Spain, Italy, and Belgium being Pakistan’s primary exportdestinations.
Ejaz reiterated Pakistan’s commitment to the scheme’s objectives for theoverall improvement of the country. He expressed gratitude to the EUParliament for upholding its promise to support trade from developingnations.
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EU Ambassador to Pakistan Dr. Riina Kionka affirmed in a statement on July7, 2023, that the proposed extension of the current GSP+ regulation meansno immediate changes for Pakistan.
