ISLAMABAD: The European Union (EU) on Tuesday decided to retain Pakistan’s Generalised System of Preferences (GSP) Plus status.
According to Pakistan Ministry of Commerce, a meeting of International Trade Committee (INTA) was held in Brussels at the European Parliament to discuss the 2nd Biennial Assessment Report of GSP Plus. The Parliament expressed satisfaction on the progress achieved by Pakistan in enacting new laws and developing new institutions for implementation of 27 core conventions of GSP Plus specially the National Action Plan for Human Rights.
The parliament hoped that Pakistan would continue to engage with the EU and ensure to bridge implementation gaps during the next two years of reporting on GSP Plus.
The Committee on International Trade also agreed to deliberate upon possibility of up-scaling relationship with Pakistan from a beneficiary of GSP Plus Scheme to an FTA partner in future.
The process of monitoring of compliance of GSP Plus for next biennial assessment report for 2018-2019 would start in March 2018 by the European Commission.