KARACHI: EU Ambassador Dr Riina Kionka emphasized that Pakistan should fully exploit the Generalized System of Preferences Plus (GSP Plus) status during a meeting organized by the Karachi Chamber of Commerce and Industry. Ambassador Kionka urged Pakistan to broaden its exports beyond textiles to the European Union, taking full advantage of the recently extended GSP Plus status that now spans until 2027.
Highlighting the economic significance of GSP Plus, Kionka noted its positive impact over the past decade. The GSP Plus status, which benefits not only textile producers but also the entire workforce in the textile sector, has contributed to a notable 108% increase in Pakistan’s exports to the European Union.
Ambassador Kionka informed that the extension of GSP Plus maintains the existing framework until 2027, providing stability for Pakistan’s trade relations with the European Union. He expressed hope that negotiations for a new directive would commence soon, involving the new parliament and the Council of Member States of the EU.
Commenting on the untapped potential in Pakistan’s gems and jewelry sector, Kionka urged traders to capitalize on the value of raw materials domestically rather than outsourcing cutting, polishing, and jewelry making to other regions.
