ANL 11.28 Increased By ▲ 1.00 (9.73%)
ASC 9.50 Increased By ▲ 0.41 (4.51%)
ASL 11.24 Increased By ▲ 0.25 (2.27%)
AVN 78.01 Increased By ▲ 0.41 (0.53%)
BOP 5.51 Increased By ▲ 0.11 (2.04%)
CNERGY 5.41 Increased By ▲ 0.08 (1.5%)
FFL 6.76 Increased By ▲ 0.16 (2.42%)
FNEL 5.91 Increased By ▲ 0.06 (1.03%)
GGGL 11.30 Increased By ▲ 0.21 (1.89%)
GGL 16.78 Increased By ▲ 0.25 (1.51%)
GTECH 8.99 Increased By ▲ 0.58 (6.9%)
HUMNL 7.20 Increased By ▲ 0.06 (0.84%)
KEL 2.96 Decreased By ▼ -0.04 (-1.33%)
KOSM 3.46 Increased By ▲ 0.25 (7.79%)
MLCF 27.15 Increased By ▲ 0.15 (0.56%)
PACE 3.10 Increased By ▲ 0.10 (3.33%)
PIBTL 6.11 Increased By ▲ 0.17 (2.86%)
PRL 18.06 Increased By ▲ 0.16 (0.89%)
PTC 7.08 Increased By ▲ 0.11 (1.58%)
SILK 1.19 Increased By ▲ 0.02 (1.71%)
SNGP 34.75 Increased By ▲ 0.47 (1.37%)
TELE 10.94 Increased By ▲ 0.13 (1.2%)
TPL 9.40 Increased By ▲ 0.32 (3.52%)
TPLP 20.49 Increased By ▲ 0.34 (1.69%)
TREET 29.40 Increased By ▲ 0.25 (0.86%)
TRG 77.50 Increased By ▲ 0.39 (0.51%)
UNITY 20.36 Increased By ▲ 0.31 (1.55%)
WAVES 12.80 No Change ▼ 0.00 (0%)
WTL 1.37 Increased By ▲ 0.04 (3.01%)
YOUW 5.51 Increased By ▲ 0.52 (10.42%)
BR100 4,117 Increased By 16.2 (0.39%)
BR30 15,069 Increased By 42.6 (0.28%)
KSE100 41,630 Increased By 89.5 (0.22%)
KSE30 15,861 Increased By 56.2 (0.36%)

ISLAMABAD: Minister for Commerce Syed Naveed Qamar will visit European capitals to muster support for extension in GSP Plus scheme, which is expiring next year.

Commerce ministry has hosted a reception in honour of EU delegation to Pakistan and EU ambassadors and discussed overall relations with the European Union which is one of the biggest export destinations of Pakistan.

According to an official statement, Pakistan enjoys great friendly trade relations with the member states of European Union. Trade relations are mutually beneficial as Pakistan’s export to EU increased by 86 percent from 3.56 billion euros in 2013 to 6.64 billion euros in 2021, while exports of EU to Pakistan increased by 69 percent from 3.31 billion euros in 2013 to 5.59 billion euros in 2021, according to Eurostat.

The increased trade is result of practice facilitation provided by Ministry of Commerce to the businesspersons from both the parties. The minister hoped that with greater avenues for B2B contacts through various instruments such as business forums, trade exhibitions, webinars/seminars, exchange of delegation will give a further boost in increasing trend in trade.

Minister for Commerce has appreciated that many European companies have invested in Pakistan, especially in agro food, energy and renewable energy sectors. The minister hoped that many more European companies will get benefit from the ease of doing business initiative of Government of Pakistan.

Commerce minister underlined the importance of the GSP Plus scheme for Pakistani economy and particularly for export sector. He emphasized that the scheme helped in promoting universal values and created an enabling environment for implementation of 27 International Conventions in the beneficiary countries besides increasing employment opportunities, especially for women.

Syed Naveed Qamar appreciated European member states for their support for Pakistan in securing the GSP Plus status and welcomed the proposed legislation for GSP Plus 2024-34 by the European Commission and hoped that it would also strengthen the mutual benefits for Pakistan and the EU.

Copyright Business Recorder, 2022

Comments

Comments are closed.