EU to help local SMEs get maximum benefit from GSP+ status

LAHORE: European Union Ambassador to Pakistan Androulla Kaminara, at a meeting with Hashim Raza, Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA), on Wednesday said that delegation of the European Union to Pakistan will help local SMEs to get maximum benefit from GSP Plus status.

The Ambassador said that the EU had provided GSP Plus status under 27 conditions as many of these conditions have already been ratified by Pakistan. Since 2014, Pakistan’s exports to EU have increased to a substantial level and it has a bright scope for further enhancement through SMEs.

She said that Pakistan’s major exports to the EU were textiles and leather. There are many other areas that could be accessed under the GSP Plus status. She mentioned that Pakistani entrepreneurs could focus on the other sectors like Handicrafts and Gems and Jewellery. She further said that there was great potential for women entrepreneurship through SMEs which are central to value addition. She expressed serious intention to have a persistent consultation with SMEDA to lay down special initiatives to support SME development process in Pakistan.

The SMEDA CEO said that an exclusive department under a senior manager was working since 2005, under which women business incubation centre in major cities of Pakistan had graduated a number of new women entrepreneurs.

Copyright Business Recorder, 2021