Formal reapplication by Dec 2028: Pakistan completes fifth GSP+ review

ISLAMABAD: Federal Commerce Secretary Jawad Paul said on Thursday that the government has successfully completed its fifth review under the EU’s Generalised Scheme of Preferences (GSP) Plus status.

He stated this while speaking as the chief guest at the launch of the Sweden–Pakistan Business Guide 2026–2028. He added that preparations are already underway for the formal re-application, which is due by December 31, 2028. Highlighting GSP Plus as the bedrock of EU-Pakistan bilateral relations, he expressed confidence that compliance with international obligations will enable Pakistan to transition smoothly into the new EU regulatory framework.

Earlier, Ambassador of Sweden H.E. Alex Berg von Linde said updating the bilateral investment treaty (BIT) and maximising the benefits of the EU’s GSP Plus scheme remain central to the future of Swedish economic engagement in Pakistan.

READM MORE: Pakistan ‘must reapply’ to retain GSP+ trade benefits as EU expands requirements

She maintained that dialogue is underway to renegotiate and modernise the existing BIT between the two nations. Alongside investment policy, she said the GSP Plus framework continues to serve as a vital engine for trade, market access, and economic growth between Pakistan, Sweden, and the broader European Union.

While substantial potential exists to deepen trade and economic relations, fully capitalising on these opportunities, particularly ahead of the upcoming GSP Plus re-application process, will require sustained efforts to advance its international commitments, she added.

The launch of Sweden–Pakistan Business Guide 2026–2028 brought together key information on the business relationship between the two countries and opportunities for future trade, investment, and partnerships. The launch was held at the Swedish Residence in Islamabad and brought together representatives from the Government of Pakistan, diplomatic missions, the Swedish Business Council in Pakistan, Swedish companies, business and industry stakeholders, as well as journalists and media representatives.

Speaking at the occasion, the Ambassador highlighted the depth of the existing business relationship between the two countries, noting that more than 40 Swedish companies are currently active in Pakistan, many with a presence spanning several decades. “Sweden and Pakistan have a long-standing relationship, and there is already a strong business community connecting our two countries. This publication brings some of that experience together and, at the same time, looks towards future opportunities,” said the Ambassador of Sweden.

The Sweden-Pakistan Business Guide is intended as a practical resource for companies, investors, government institutions, and other stakeholders interested in the Swedish–Pakistani business relationship. It provides an overview of the two markets, the Team Sweden network, Sweden’s strengths as a business and investment partner, and serves as a directory of Swedish companies operating in Pakistan. It also highlights key priority areas where Sweden and Pakistan are developing closer cooperation, including sustainable textiles, ICT & digitalisation, and responsible mining.

A central idea behind the publication is “Made with Sweden in Pakistan” — a concept that reflects the way Swedish companies and Pakistani partners are already working together. Rather than focusing only on what is made in Sweden or Pakistan, the concept recognises the value created when Swedish technology, expertise, and ideas come together with Pakistani talent, businesses, and local knowledge.

The Embassy of Sweden, together with Business Sweden and the Swedish Business Council in Pakistan, will continue working with partners in both countries to identify opportunities, support business connections, and encourage greater cooperation between Swedish and Pakistani companies.

Copyright Business Recorder, 2026