A high-level European Union monitoring mission has underscored the critical need for Pakistan to maintain sustained reforms and effectively implement 27 international conventions on human and labor rights, environmental protection, and good governance for the continuation of its lucrative GSP+ trade status.
According to a statement today, the EU’s GSP Plus Monitoring Mission, headed by Trade Mission Lead Mr. Sergio Balibrea, conveyed the message during a comprehensive meeting at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) head office to review the country’s progress under the preferential trade scheme.
During the session, FPCCI President Mr. Atif Ikram Sheikh highlighted the arrangement”s profound impact, revealing that Pakistan”s exports to the EU have surged from $5.4 billion in 2013 to $13.54 billion in 2024. He described the GSP+ framework as a key driver of sustainable economic growth and job creation.
However, Sheikh also noted a significant lack of diversification in the country”s export basket, which remains dominated by textiles, accounting for nearly 82% of total exports to the European bloc.
While acknowledging Pakistan’s progress, Mr. Balibrea emphasized the necessity for institutional strengthening and effective implementation mechanisms. Both sides reaffirmed their commitment to a long-term partnership under the EU-Pakistan Strategic Engagement Plan, agreeing to boost cooperation in trade, climate resilience, and skills development.
FPCCI Senior Vice President, Mr. Saquib Fayyaz Magoon, confirmed that the dialogue covered Pakistan’s adherence to the international conventions essential for retaining its GSP+ status. He shared industry insights on efforts to improve working conditions, gender equality, and eliminate child labor, stating that many industrialists provide support like healthcare and educational funds to their workforce, influenced by strong cultural and religious norms.
Seeking to broaden economic ties, FPCCI Vice President Ms. Qurrat Ul Ain presented major investment opportunities in sectors such as renewable energy, mining, pharmaceuticals, and agribusiness, calling for joint ventures and partnerships with European companies.
Mr. Zubair Baweja, Chairman of the FPCCI’s Pakistan-EU Business Forum, outlined key obstacles faced by exporters, including compliance with EU standards, sanitary and phytosanitary (SPS) issues, and emerging regulatory hurdles like the EU Medical Device Regulation (MDR).
To address these challenges, Baweja proposed enhanced EU technical assistance and capacity-building programs to help Pakistani businesses, particularly small and medium-sized enterprises in unconventional sectors, better navigate the complex certification and documentation processes.