GSP+ status extended for four years

The European Parliament on Thursday unani­mously voted to extend the current generalised system of preferences (GSP) for another four years until 2027 for developing countries, including Pak­istan, to enjoy duty-free or minimum duty on exports to the European market. The parliament voted with 561 in favour, five against and two in abstention to extend the current rules on the GSP schemes, including GSP+ , after talks with the EU Council on the new rules were paused in June, an official statement issued by the EU Parliament said. In September this year, the INTA Committee, a trade body of the EU Parliament, approved the extension of GSP schemes for 60 developing countries. Caretaker Commerce Minister Gohar Ejaz told Dawn that the decision will ensure that Pakistani exporters can keep selling their goods to the EU market with certainty. He said the EU is a major market for Pakistani exporters, adding that all schemes under GSP were extended for four years.