Pakistan’s exports to the European Union have grown 108 percent since the country secured GSP Plus status, while total trade with the bloc climbed from EUR 8.3 billion in 2013 to EUR 14.85 billion in 2022, highlighting why the trade facility remains important for Pakistan.
Prime Minister Shehbaz Sharif emphasized the significance of GSP Plus during meetings with European Council President António Luís Santos da Costa and European Commission President Ursula Gertrud von der Leyen on the sidelines of the 81st Session of the United Nations General Assembly.
The discussions focused on strengthening economic and diplomatic ties between Pakistan and the European Union, with both sides noting the increased engagement between their leaderships.
Shehbaz said Pakistan remains committed to expanding its relationship with the EU and implementing the Pakistan-EU Strategic Engagement Plan.
He also stressed the importance of continued high-level engagement to further develop cooperation between the two sides.
GSP Plus featured prominently in the discussions, with the prime minister highlighting its contribution to Pakistan’s exports, employment and broader economic activity.
Pakistan received GSP Plus status from the European Union in 2014. The arrangement gives eligible Pakistani products preferential access to the European market, including duty-free treatment across around two-thirds of EU tariff lines.
The impact on bilateral trade has been significant. According to the figures cited in the report, Pakistani exports to the EU increased by 108 percent between 2014 and 2022. Meanwhile, total trade between Pakistan and the bloc rose by more than EUR 6.5 billion over the same period.
Shehbaz reaffirmed Pakistan’s intention to continue engaging with the EU under the GSP Plus framework and strengthen the economic relationship.
The leaders also exchanged views on regional and international matters, emphasizing diplomacy, dialogue, international law and peaceful resolution of disputes.
The prime minister invited the European Council and European Commission presidents to visit Pakistan and expressed his interest in further expanding cooperation with the EU.
