EU Urges Pakistan: Implement GSP+ Commitments to Retain Trade Benefits

The European Union has urged Pakistan to prioritize effective implementation of human rights and rule of law commitments to secure continued GSP+ trade benefits, which allow zero or reduced tariffs on exports to the EU. With Pakistan's exports to the EU reaching $8.96 billion in 2025-26, primarily textiles, the continuation of GSP+ is vital for the nation's economy. The new GSP framework, effective 2027, emphasizes demonstrable improvements, with Pakistan required to reapply by end-2028. Continued GSP+ status is crucial for Pakistan's export earnings, potentially supporting the Pakistani Rupee against the US Dollar and influencing local gold prices.

بحوالہ / Source: www.brecorder.com