https://arab.news/jbmdy
- EU parliamentary committee holds talks on trade, investment and human rights with Pakistan’s commerce minister
- Pakistan is a beneficiary of GSP Plus scheme, which grants countries’ exports duty-free access to the European market
ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan and a European Union parliamentary delegation on Monday agreed to strengthen the existing partnership between the two sides under the Generalized Scheme of Preference Plus (GSP Plus) framework, the commerce ministry said as both sides discussed trade, investment and human rights.
A high-level committee of the EU parliament visited the Ministry of Commerce in Islamabad to hold talks with Khan. The two sides held discussions on sustainable development and transparent relations between Pakistan and the EU, with Khan briefing the EU delegation regarding Pakistan’s progress on climate action, human rights and labor reforms.
Pakistan is a beneficiary of the GSP Plus scheme, which grants countries’ exports duty-free access to the European market in exchange for voluntarily agreeing to implement 27 international core conventions, including those on human and civil rights. In October 2023, the EU unanimously voted to extend GSP Plus status until 2027 for developing countries, including Pakistan.
“Pakistan and the European parliament delegation agree to strengthen partnership under the GSP Plus framework,” the commerce ministry said in a statement.
Khan said Pakistan attaches great significance to its ties with EU, informing the delegation that it has recently introduced laws to protect journalists and promote religious harmony.
The minister also highlighted Islamabad’s recent measures to create a conducive environment for foreign investment, pointing out that the country has tried to tackle issues related to high taxation, energy costs, and particularly interest rates, which he said have been reduced from 22 percent to 11 percent.
“He reaffirmed that Pakistan’s economic future lies in industrial expansion, skill development, and human resource empowerment, noting that over 60 percent of Pakistan’s 250 million population is below the age of 30— making skill training and vocational education a key national priority,” the commerce ministry said.
The EU parliament members, including Lukas Mandl and Marc Jongen, appreciated Pakistan’s “constructive engagement, openness in discussion, and the government’s focus on reforms and human capital development,” the commerce ministry said.
“They acknowledged Pakistan’s potential and reiterated that dialogue, transparency, and partnership would continue to guide the EU–Pakistan relationship,” the ministry added.
Islamabad considers the EU a vital trading partner. Pakistan has become the largest beneficiary of the GSP+ trade scheme in recent years, with its businesses increasing their exports to the EU market by 108 percent since the trade scheme was launched in 2014.