Pakistan’s exports to the EU have grown significantly with the help of the Generalized System of Preferences
According to a report by Pakistan’s “The News” on January 30, Commerce Minister Khurram said at an event in Brussels that with the support of the EU’s Generalized System of Preferences (GSP+) for Pakistan, Pakistan’s exports to the EU have increased by 37% in the past three years. %. As demand from Pakistan’s textile and clothing industry expands, the EU’s exports of machinery, chemicals, dyes, etc. to Pakistan increased by 14%.
In 2013, the EU decided to implement the GSP+ preferential policy for Pakistan, implementing zero tariffs on 20% of Pakistani products exported to the region, and preferential tax rates on 70% of products. The preferential period will last until 2017. The current bilateral trade volume between the EU and Pakistan exceeds US$7 billion, which is basically balanced. Pakistan’s export products mainly include textiles, leather, and medical equipment. Pakistan’s exports to the EU have grown significantly with the help of the Generalized System of Preferences
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