ISLAMABAD, June 22 (Alliance News): The European Union’s monitoring mission for the Generalized Scheme of Preferences Plus (GSP Plus) arrived in Islamabad on Wednesday to review the effective implementation of 27 international conventions.
The review is conditional on 66% of the tariff lines acquiring the ability to export goods to EU markets without any duty.
Conventions deal with human and labor rights, environmental protection, climate change and good governance. The European Union continues to monitor the implementation of the relevant 27 international conventions based on reports and information from the United Nations and other international agencies that are the guardians of the relevant conventions.
JESSP Plus provides broad tariff priorities for imports from weaker developing countries to the EU in order to strengthen poverty alleviation, sustainable development and their participation in the global economy, as well as good governance. Status GSP Plus is conditional on countries that make significant progress in implementing 27 international conventions.
The EU Monitoring Mission will review the effective implementation of the 27 international conventions that Pakistan is about to sign.
GSP Plus has been very beneficial for Pakistani businesses, with their exports to the EU market increasing by 65% in 2014. The European single market with over 440 million customers is Pakistan’s most important destination. Exports of Rs 12 trillion mainly consist of garments, bed linen, terry towels, hosiery, leather, sports and surgical equipment.
The EU Mission in Islamabad said in a statement that as emphasized by the High Representative and Vice President Joseph Borrell Fontelles, the GSP scheme is about the joint commitment of the EU and Pakistan for sustainable development.
Welds Dom Brusky, Executive Vice President and Commissioner for Trade, said that for five decades in 2021, the EU GSP has helped weaker countries to grow sustainably by giving them preferential access to EU markets. This has helped the beneficiary countries to diversify their economies and create jobs.
During its stay in Islamabad, the Mission will meet with representatives of the Government, the UN team in Pakistan, representatives of the International Labor Organization, business and civil society, as well as other stakeholders, to be part of the next GSP report Will be presented to the European Parliament and Council by the end of 2022.
In addition to Pakistan, the European Union currently offers unilateral GSP Plus tariff concessions to Bolivia, Kabu Varde, Kyrgyzstan, Mongolia, the Philippines, Sri Lanka and Uzbekistan. The current GSP Framework expires in December 2023. Legislation is underway for the next term.