Pakistan remains largest beneficiary of EU GSP+ scheme

WEB DESK: Pakistan remained the largest beneficiary of the European Union’s Generalised Scheme of Preferences Plus (GSP+) trade programme in 2024, with exports worth $8.78 billion benefiting from tariff concessions, according to the European Commission’s latest GSP+ report.

The report said Pakistan saved $1.17 in tariffs during the year through the preferential trade scheme, while the country’s utilisation rate of GSP+ preferences reached 95.1 per cent, one of the highest among beneficiary nations.

According to the European Commission, the European Union accounted for 28 per cent of Pakistan’s total exports in 2024, with garments, textiles and other manufactured products continuing to benefit significantly from duty-free or preferential access to the European market.

The report noted that Pakistan has maintained ratification of all 27 international conventions required under the GSP+ framework and continued its regular cooperation with the European Union’s monitoring process.

It also highlighted several areas of progress, including the National Commission for Human Rights securing ‘A’ status, legislative efforts to establish the National Commission for Minorities, and reforms related to anti-torture measures, prison administration and law enforcement training.

The Commission further acknowledged Pakistan’s legislative progress on women’s rights, prevention of domestic violence and child marriages, as well as measures to strengthen labour rights and combat forced and child labour.

The report also recognised Pakistan’s efforts on climate policy, carbon market development, biodiversity conservation, anti-narcotics legislation and the introduction of a digital case management system.

Reaffirming its long-term partnership with Pakistan, the European Union also reiterated its commitment to provide $468 million in development and reform assistance, according to the report.