The GSP-Plus status will allow almost 20 per cent of Pakistani exports
to enter the EU market at zero tariff and 70 per cent at preferential
rates. — File photo
ISLAMABAD: The European Union (EU) on Thursday granted Generalised
System of Preferences (GSP) Plus status to Pakistan with an impressive
count of 406 votes, granting Pakistani products a duty free access to
the European market.
According to media reports, 406 members of the European Parliament
expressed their support for Pakistan while 186 lawmakers voted against
the status, which has been granted till 2017.
The GSP Plus status will allow almost 20 per cent of Pakistani
exports to enter the EU market at zero tariff and 70 per cent at
preferential rates.
Prime Minister Nawaz Sharif congratulated the nation over the European Union award.
“Award of GSP Plus status shows the confidence of international
markets in the excellent quality of Pakistani products,” he said in a
statement.
The prime minister said: “gaining access to European markets was the
top most priority of the government as part of economic development
agenda, which has been achieved due to continuous hard work of the
ministers and officials from the ministries of finance, commerce and
foreign affairs and friends of Pakistan in Europe.”
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