Here’s Why Pakistan Cannot Afford to Lose EU Export Benefits
Pakistan cannot afford to lose the European Union’s trade benefits, with exports rising 108 percent since the country received GSP … Read More The post Here’s Why Pakistan Cannot Afford to Lose EU Export Benefits appeared first on ProPakistani .
Pakistan's economy heavily depends on the European Union's trade benefits, with exports surging 108% since the nation attained Generalized Scheme of Preferences Plus (GSP Plus) status in 2014. Total trade between the two nations reached EUR 14.85 billion by 2022, up from EUR 8.3 billion in 2013. Prime Minister Shehbaz Sharif met EU leaders António Luís Santos da Costa and Ursula von der Leyen during the UN General Assembly to discuss Pakistan-EU relations.
Both parties expressed satisfaction with the strengthening of bilateral ties and high-level exchanges. Shehbaz Sharif reiterated Pakistan's dedication to advancing the Pakistan-EU Strategic Engagement Plan, emphasizing the significance of consistent leadership engagement to advance bilateral relations. The GSP Plus status grants Pakistan duty-free access to the EU market for around two-thirds of its exports, covering a considerable portion of EU tariff lines.
Written by urgent.news from ProPakistani's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
