EU to decide on Pakistan’s GSP+ status after two-year review: Androulla Kaminara
The European Union (EU) will decide about extending the Generalised Scheme of Preferences Plus (GSP+) status for 2024 to Pakistan after reviewing the performance of the country in the past two years on exports for the years 2020 and 2021, a top official said.
EU Ambassador to Pakistan Androulla Kaminara was quoted as saying by Dawn News while speaking at the Lahore Chamber of Commerce & Industry (LCCI) here: "The last two-year report (2018-19) was issued in February 2020. Pakistan’s performance report (for the years 2020 and 2021) is under compilation these days. Therefore, further decision for the extension of this status to Pakistan, with effect from Jan 1, 2024, will be made after reviewing this report."
GSP is an entrenched trade and development policy instrument, in place since 1971, reports Dawn News.
Pakistan has been the major recipient of the GSP+ scheme for the last seven years.
The status is set to expire on Dec 31, 2023.