AIRLINK 79.97 Increased By ▲ 1.58 (2.02%)
BOP 5.30 Decreased By ▼ -0.04 (-0.75%)
CNERGY 4.35 Increased By ▲ 0.02 (0.46%)
DFML 33.19 Increased By ▲ 2.32 (7.52%)
DGKC 77.55 Decreased By ▼ -0.96 (-1.22%)
FCCL 20.55 Decreased By ▼ -0.03 (-0.15%)
FFBL 32.90 Increased By ▲ 0.60 (1.86%)
FFL 10.36 Increased By ▲ 0.14 (1.37%)
GGL 10.30 Increased By ▲ 0.01 (0.1%)
HBL 118.98 Increased By ▲ 0.48 (0.41%)
HUBC 135.30 Increased By ▲ 0.20 (0.15%)
HUMNL 6.81 Decreased By ▼ -0.06 (-0.87%)
KEL 4.35 Increased By ▲ 0.18 (4.32%)
KOSM 4.77 Increased By ▲ 0.04 (0.85%)
MLCF 38.40 Decreased By ▼ -0.27 (-0.7%)
OGDC 134.76 Decreased By ▼ -0.09 (-0.07%)
PAEL 23.66 Increased By ▲ 0.26 (1.11%)
PIAA 26.71 Increased By ▲ 0.07 (0.26%)
PIBTL 7.03 Increased By ▲ 0.01 (0.14%)
PPL 113.69 Increased By ▲ 0.24 (0.21%)
PRL 28.28 Increased By ▲ 0.55 (1.98%)
PTC 14.68 Increased By ▲ 0.08 (0.55%)
SEARL 58.42 Increased By ▲ 1.92 (3.4%)
SNGP 68.50 Increased By ▲ 2.20 (3.32%)
SSGC 11.24 Increased By ▲ 0.30 (2.74%)
TELE 9.30 Increased By ▲ 0.15 (1.64%)
TPLP 11.78 Increased By ▲ 0.11 (0.94%)
TRG 71.40 Decreased By ▼ -0.03 (-0.04%)
UNITY 25.10 Increased By ▲ 0.59 (2.41%)
WTL 1.42 Increased By ▲ 0.09 (6.77%)
BR100 7,522 Increased By 29.5 (0.39%)
BR30 24,729 Increased By 171.2 (0.7%)
KSE100 72,378 Increased By 326.4 (0.45%)
KSE30 23,824 Increased By 16.3 (0.07%)

BRUSSELS: The EU on Wednesday updated its conditions for poorer nations to win privileged access to the European market with a demand they fall in line with the bloc's green ambitions.

The changes are part of the European Commission's update to a scheme dating from 1971, known as the Generalised Scheme of Preferences (GSP), that offers easier access to the EU market for goods exported from developing countries.

The EU executive will now make sticking to environmental safeguards a condition for countries to keep enjoying the smoother GSP access for selling goods into Europe.

Under the GSP, the EU can put pressure on developing countries that veer away from internationally set standards on human rights, labour norms and other issues.

Europe to miss 2030 climate goal by 21 years at current pace

Last year, for example, the EU restored tariffs on goods imported from Cambodia over perceived human rights violations.

"There is no need to overhaul the scheme, as we did 10 years ago. But we have done some fine-tuning... to bring the scheme closer in line with our trade sustainability principles," said Valdis Dombrovskis, the EU trade commissioner.

In addition, the scheme, which is broken down into several categories of countries, will add six more conventions to the current 27 that countries must comply with to receive the trade advantages.

The EU will also replace the Kyoto Protocol with the Paris agreement on climate change.

Comments

Comments are closed.