The European Unionwill review GSP Plus status for Pakistan in December 2023.

More conventions pertaining to labour and human rights will be added. The EU has appreciated the performance of Pakistan’s garment manufacturers but has underscored the need for product diversity and more value addition to exploit the full potential of market access given under the GSP Plus regime.

The EU is supporting Pakistan’s small and medium enterprises in economic growth, technical education, skill development and also advising Pakistan on technical and vocational education and skilling women in the workforce. The EU is opening new markets for Pakistan’s small and medium enterprises within the European bloc.

The EU is the biggest market for Pakistan’s goods and accounts for about one-third of all exports from the country.GSP Plus has increased EU-Pakistan trade, which increased by 78 per cent in 2021 as compared to the year earlier. So GSP Plus has been very beneficial for Pakistan’s economy. It provides duty-free access to the huge EU market for textile and apparel and also provides an incentive structure to undertake reforms in the industry and country.

Trade with EU is of critical importance to Pakistan’s economic and social stability as well as prosperity.