PM Shehbaz Reaffirms Pakistan's Commitment to EU Trade via GSP+ Programme

In a significant diplomatic engagement, Prime Minister Shehbaz Sharif on Thursday reiterated Pakistan's steadfast commitment to enhancing trade and economic cooperation with the European Union (EU), with a particular focus on the Generalised Scheme of Preferences Plus (GSP+) preferential trade programme. This reaffirmation came during a high-level meeting with EU Ambassador to Pakistan Raimundas Karoblis at the PM House in Islamabad, where both sides discussed avenues for mutual growth and collaboration.

Strengthening Pakistan-EU Trade Ties

Prime Minister Shehbaz emphasized that Pakistan is dedicated to working closely with the EU on initiatives aimed at boosting bilateral trade in a mutually beneficial manner. The GSP+ scheme, which offers developing countries like Pakistan preferential access to European markets, plays a pivotal role in this strategy. In exchange for these trade benefits, eligible countries must commit to implementing 27 international conventions covering key areas such as:

Sustainable development
Good governance
Human rights
Labor rights
Environmental protection

As a result of this compliance, the EU reduces import duties to zero on more than two-thirds of the tariff lines applied to exports from beneficiary nations. Pakistan is currently one of only eight countries worldwide that benefit from this advantageous scheme, highlighting its strategic importance in the global trade landscape.

Broader Cooperation and Future Initiatives

During the meeting, Prime Minister Shehbaz highlighted the vital role of the GSP+ programme in boosting Pakistan-EU trade and pledged the government's full support to enhance trade relations under this framework. He also underscored Pakistan's broader commitment to strengthening cooperation with the EU across multiple areas of mutual interest, including:

Investment opportunities
Development projects
Security collaborations
Migration management
Climate change initiatives

Ambassador Karoblis, who assumed his post a few months ago, expressed appreciation for the warm reception since his arrival and reaffirmed the EU's dedication to deepening engagement with Pakistan. He stressed that trade promotion under the GSP+ programme and broader commercial initiatives remain a top priority for the EU. The ambassador also welcomed the upcoming first EU-Pakistan Business Forum, scheduled for April, as a crucial platform to further enhance bilateral business and investment ties.

Strategic Dialogue and PIA Privatisation

The prime minister referred to the outcomes of the seventh Pakistan-EU Strategic Dialogue, held in Brussels last November under the leadership of Deputy Prime Minister and Foreign Minister Senator Ishaq Dar. During this dialogue, both sides reiterated their commitment to expanding trade and investment links, particularly through the GSP+ scheme, and emphasized sustained collaboration on economic, security, and developmental fronts.

In a separate but related development, Prime Minister Shehbaz Sharif announced that Pakistan International Airlines (PIA) is set to achieve new heights under the leadership of the Arif Habib Consortium. This consortium recently acquired the national carrier as part of the government's privatisation initiative. Speaking at the signing ceremony for the transaction documents, the prime minister stated that the privatisation of PIA marks a historic step toward improving the airline's performance in key areas such as:

Operational efficiency
Punctuality of flights
Cabin service quality
Professional standards

He congratulated the nation on the successful signing of the privatisation agreement and praised Arif Habib and his team as distinguished business ambassadors of Pakistan who have contributed significantly to the country's progress. Prime Minister Shehbaz added that the new ownership will prioritize the comfort and safety of passengers, ensuring a modern and professional airline experience.