Karachi: The European Union's GSP Plus Monitoring Mission, led by Trade Mission Lead Sergio Balibrea, visited the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Head Office in Karachi to assess Pakistan's progress under the GSP+ scheme and explore avenues for increased cooperation.

During the visit, the EU delegation engaged in discussions with FPCCI officials, including President Atif Ikram Sheikh, SVP Saquib Fayyaz Magoon, VP Qurat Ul Ain, Chairman of FPCCI's Pakistan-EU Business Forum Zubair Baweja, and member of the National Assembly of Pakistan Dr. Mirza Ikhtair Baig. The meeting aimed to evaluate Pakistan's compliance with the GSP+ framework and its impact on trade with the EU.

Mr. Sheikh noted that the GSP+ arrangement has played a significant role in boosting Pakistan's exports to the EU, which have grown from $5.4 billion in 2013 to $13.54 billion in 2024. Despite this growth, he acknowledged that the export sector remains heavily reliant on textiles, which constitute 82% of Pakistan's exports to the EU.

Mr. Balibrea recognized Pakistan's efforts but underscored the importance of sustained reforms and effective implementation to maintain GSP+ status. Both parties reaffirmed their commitment to strengthening their partnership under the EU-Pakistan Strategic Engagement Plan, agreeing to enhance cooperation in trade and other key areas for mutual benefit.

Mr. Magoon highlighted the discussions on Pakistan's adherence to international conventions on human rights, labor rights, environmental protection, and governance, which are crucial for retaining GSP+ status. He emphasized the importance of industry compliance with labor laws and the provision of social services to the workforce.

Ms. Qurat Ul Ain presented investment opportunities in Pakistan, advocating for joint ventures with European companies and collaboration on SME development and human development programs. She highlighted sectors such as renewable energy, mining, and pharmaceuticals as areas for potential growth.

Mr. Baweja addressed challenges faced by exporters in meeting EU standards and the need for enhanced EU technical assistance and capacity-building programs. He emphasized the necessity of raising awareness among SMEs regarding certification and documentation processes to navigate evolving regulatory requirements effectively.