Pakistan to Implement International Commitments GSP+
According to news reports, Foreign Minister Shah Mahmood Qureshi reassured delegates of the European Union (EU) Parliament that Pakistan will implement international conventions agreed upon under the Generalized System of Preferences (GSP+) Plus.
The minister stated that the government is dedicated to undertaking infrastructure changes and adjustments to uphold its obligations. Moreover, he noted that the GSP+ designation has proven beneficial for Pakistan’s citizens and trade growth.
Similarly, he stated that the foundation and structure for the parties’ multidimensional partnerships are increasing.
It is essential to recall that Pakistan’s GSP+ status enables it to sell to EU states with special tariffs and tax advantages. In order to renew Pakistan’s GSP+ status for the next two years, till 2024, the EU trade commission has announced that it is evaluating Pakistan’s responsibilities and trade potential.
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