Dar meets EU foreign policy chief, stresses importance of GSP+ status for Pakistan's trade ties with the bloc

Deputy Prime Minister and Foreign Minister Ishaq Dar met with EU High Representative for Foreign Affairs and Security Policy Kaja Kallas on the sidelines of the UN General Assembly in New York, as reported by the Foreign Office. The meeting emphasized the significance of GSP+ status for Pakistan's trade relations with the European Union during the 81st session of the UN General Assembly from September 21-25.

Dar highlighted Pakistan's attachment to its partnership with the EU, particularly in trade and economic cooperation, and praised the EU's constructive engagement with Pakistan during recent regional developments. The two sides discussed regional and global developments, with Dar advocating for a return to dialogue and diplomacy and full implementation of the Islamabad Memorandum of Understanding signed between the US and Iran.

The EU Generalised Scheme of Preferences is set to expire at the end of this year, and Pakistan needs to seek inclusion in the successor regime, which has more stringent requirements. However, Pakistan faces compliance issues, regresses in several areas, and makes limited positive changes, according to a European Commission assessment.

EU imports from Pakistan declined in 2023 due to weaker European demand, but the EU remains Pakistan's largest export destination, accounting for 28% of its total exports.