Commerce Minister Jam vows adherence to treaties for GSP+ – Business

ISLAMABAD: Commerce Minister Jam Kamal Khan assures the European Union of adhering to 27 international conventions to avail of the trade benefits under the Generalised Scheme of Preferences Plus (GSP+) scheme.

On Tuesday, the minister gave the assurance at a meeting with EU Special Representative for Human Rights Ambassador Olaf Skoog to discuss ways to strengthen the partnership through trade and economic cooperation.In an announcement, the commerce ministry said that the meeting focused on sustaining and advancing trade benefits under the GSP+ while ensuring compliance with international commitments.

The discussions emphasised Pakistan’s adherence to the 27 international conventions, covering human rights, labour rights, environmental standards, and good governance, to which Pakistan is a signatory.

In October 2023, the European Parliament unanimously voted to extend the GSP+ status for another four years until 2027 for developing countries, including Pakistan, to enjoy duty-free or minimum duty on European exports.

In FY24, Pakistan’s exports to the EU dipped 3.12pc to $8.240bn despite its GSP+ status.

In a message on X on Tuesday, the EU office in Islamabad announced that Olaf Skoog met with Mr Kamal to discuss the economic benefits and obligations associated with GSP+, particularly concerning human and labour rights. The EU office further highlighted that the European Union remains Pakistan’s top export destination, accounting for 30pc of the country’s exports in 2023.“

According to the announcement, Mr Kamal reiterated Pakistan’s commitment to these obligations: “We are not only improving on these aspects as international obligations but because it is beneficial for us as a nation and government.”

Mr Skoog praised Pakistan’s active engagement with the EU and highlighted the mutual benefits of the GSP+ framework for both Pakistani exporters and European importers. He also expressed his desire for stronger collaboration between the EU and Pakistan at multilateral human rights forums.

Mr Jam acknowledged the economic challenges faced by the government in the past year and assured the delegation of significant progress, noting reductions in inflation and interest rates.

Both sides agreed to enhance collaboration to ensure Pakistan’s continued eligibility for GSP+ status while addressing shared concerns. The commerce minister reiterated the government’s commitment to fulfilling international obligations through initiatives led by the Treaty Implementation Cell.

Published in Dawn, January 29th, 2025