The members of the European Parliament of the European Union have decided to roll over the rules on the Generalised Scheme of Preferences-Plus (GSP+) till 2027, the commerce minister said on Thursday.
“The European Council is expected to give its final approval for the extension of the current scheme soon,” Gohar Ejaz said in a post on X, erstwhile Twitter.
In July, this year, the European Commission proposed extending Pakistan’s GSP+ status for another four years as a contingency measure. The special incentive is set to expire at the end of this year.
Alhamdolillah, I am pleased to share that the EU MEPs have decided to roll over the rules on the Generalised Scheme of Preferences (GSP) till 2027.
The European Council is expected to give its final approval for the extension of the current Scheme soon.
I take this opportunity… pic.twitter.com/ANQvHX9Jj5
— Dr Gohar Ejaz (@Gohar_Ejaz1) October 5, 2023
The GSP+ scheme became effective on Jan 1, 2014. The top export destinations for Pakistan are Germany, the Netherlands, Spain, Italy, and Belgium
“The proposed extension of the current regulation for GSP+ in effect that means no change for Pakistan at the moment,” EU Ambassador to Pakistan Dr Riina Kionka said in a statement on July 7, 2023.
"The proposed extension of the EU’s global GSP regulation means that, for now, nothing changes. Pakistan will continue to benefit from the preferential access to the European Market. Pakistan’s obligations to maintain the status also remain the same."
⬇️Full statement by @RKionka pic.twitter.com/VvmO0T4wBM— EUPakistan (@EUPakistan) July 9, 2023
She explained that Pakistan enjoyed the same trade preferences and access to the European markets and it has the same obligations as before in terms of implementing 27 human rights, labour rights, governance, and the environment.
The EU Ambassador to Pakistan said they were keeping a close eye on Pakistan and the proposed continuation of the regulation applied to all eight beneficiaries of GSP Plus.
