It was reported that Pakistan will seek two years extension in Generalized Preferential System (GSP) plus status, set to expire in 2022, from the European Union. This was shared by the Advisor to Prime Minister on Commerce and Investment, who added that it is most likely that GSP+ will continue.
In March 2020, the EU extended Pakistan’s GSP plus status till 2022. The main sectors that benefited from GSP Plus have been textile and garments.
Since the grant of GSP Plus in 2014, Pakistan’s exports to the European Union have enhanced from 4.54 billion euros in 2013 to 7.50 billion euros in 2020, registering an increase of 65%.
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