Pakistan seek positive economic development from the European Union

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Pakistan seek positive economic development from the European Union

*ISLAMABAD: **Pakistan seek positive economic development from the European Union.*

Pakistan would continue to enjoy tariff preferences in the European Union (EU) under the Generalised Scheme of Preferences (GSP)-Plus, Adviser to Prime Minister on Commerce Razzaq Dawood announced in Thursday.

Taking to the microblogging website, Twitter, Dawood urged the business community to capitalise on this opportunity to the optimum and diversify their exports, which would in turn help the government to improve the conditions of the masses.

“Pakistan would continue to enjoy tariff preferences in EU under GSP+. I thank EU institutions,& all relevant federal ministries & provincial departments of Pakistan, steered by Treaty Implementation Cell of MoC, to meet GSP+ obligations,” he said in a tweet.

“This would strengthen our resolve to continue to improve the social and economic conditions of our people. I urge the business community to diversify their exports to capitalise on this opportunity to the optimum,” he added.

The GSP removes import duties from products coming into the EU market from vulnerable developing countries. This helps developing countries to alleviate poverty and create jobs based on international values and principles, including labour and human rights.

The EU continuously monitors GSP+ beneficiary countries’ effective implementation of the 27 international conventions on human rights, labour rights, environmental protection, and good governance.

Pakistan was granted GSP-Plus in 2014 and has shown commitment to maintaining ratifications and meeting reporting obligations to the UN treaty bodies for these 27 conventions.

The EU said in a report last month the Pakistan government showed keen interest in maintaining GSP-Plus status.