ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday stressed the critical role of the Generalized Scheme of Preferences (GSP) Plus in enhancing trade with the European Union (EU), as Islamabad reviews the implications of India’s free trade deal with Europe.
India and the EU confirmed this week that they had agreed to a new free trade deal that grants Indian exporters sweeping tariff-free access to the EU. Pakistan’s foreign office said Islamabad is aware of the agreement and will continue to view its trade relationship with the EU as mutually beneficial.
Pakistani financial analysts and exporters have voiced concerns that the deal may erode its tariff advantage under the GSP Plus, which allows duty-free access for many Pakistani exports to the EU in return for commitments on labor rights, human rights and governance.
Sharif met EU’s Ambassador to Pakistan Raimundas Karoblis at the Prime Minister’s House to discuss bilateral ties, trade, investment and other areas of interest between the two sides.
“The Prime Minister emphasized upon the critical role of the GSP Plus scheme in enhancing trade between Pakistan and the EU,” Sharif’s office said in a statement.
