KARACHI: Ambassador of the European Union (EU), to Pakistan Riina Kionka urged Pakistani businessmen and investors to take full benefit of the Generalised System of Preferences (GSP) Plus facility being recently extended by the EU till 2027.
He said this during his visit to the Karachi Chamber of Commerce and Industry, adding that the traders from Karachi should not confine themselves to textile export only but should explore another sector for export to Europe.
The ambassador recalled that the GPS Plus status has significant benefits everywhere as it helped to increase Pakistan’s exports by 108 percent during the last 10 years. He further said that the recent extension of the status for 4 years would be a great opportunity for Pakistani traders to enhance exports to European countries.
Pakistan’s GSP Plus Status
It is worth noting here that in October last year, the European Parliament voted to extend the current GSP for another four years, until 2027, for different countries, including Pakistan.
During the voting, the decision was made when a majority of 561 Members of the European Parliament (MEPs) voted in favor of the extension, with only five voting against it, whereas two of the members abstained.
