Caretaker Federal Minister for Commerce and Industry Dr Gohar Ejaz Thursday said the European Parliament has approved the extension of the Generalized System of Preference (GSP) plus scheme to Pakistan.
According to the 24News HD TV channel, Dr Gohar Ejaz said the European Parliament has approved the continuation of the GSP Plus scheme for Pakistan till 2027.
Dr Gohar Ejaz also said that Pakistan is determined to implement the GSP Plus scheme.
The primary objective of the Generalized System of Preference, commonly called GSP is to contribute to the reduction of poverty and the promotion of sustainable development and
good governance. Tariff preferences in the EU market enable Developing Countries to participate more fully in international trade and generate additional export revenue to support
the implementation of their own sustainable development and poverty reduction policy strategies.
Separately, caretaker Commerce Minister Gohar also made a virtual meeting with the Minister of Commerce of Kazakhstan and discussed the issues related to the bilateral trade and economic relationship between both countries.
Dr Gohar Ejaz offered Kazakhstan to invest in special economic zones as the Pakistani government is giving several incentives and facilities to the investors.
He also said that his government is taking measures to increase exports to 100 billion dollars in the next five years.

Reporter: Waqas Azeem