In positive economic development, Pakistan seek extension in GSP Plus status from EU
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ISLAMABAD - In positive economic development, Pakistan seek extension in GSP Plus status from EU.
The International Trade (INTA) Committee of EU Parliament has extended the Generalised System of Preferences-Plus (GSP-Plus) status for Pakistan, enabling the country to continue to enjoy preferential duties on exports for the next two years.
While the GSP-Plus facility has been available to Pakistan since January 2014, its continuation is an award for Islamabad’s progress in enacting new laws and developing new institutions for implantation of 27 core conventions of GSP-Plus, especially the National Action Plan (NAP) for human rights.
Pakistan’s third biennial assessment report, which was published by the European Commission on Feb 10, was discussed by the INTA on Feb 19 and by the GSP Working Party of the European Council a week later.
