ISLAMABAD: Pakistan accords immense importance to its relations with the European Union espousing values of democracy, plurality and rule of law, said state minister for Information, Broadcasting and National Heritage Marriyum Aurangzeb.
Pakistan, european union: ‘GSP Plus has potential to enhance trade’
She said this during a meeting with Jean-Francois Cautain, the Ambassador of European Union to Pakistan, on Friday.
The EU Ambassador and the minister discussed various matters related to cooperation in the fields of media, information and culture.
The EU envoy assured the minister of all possible help to Pakistan in the field of media, information and culture. He also extended an invitation to Minister of State to join the celebrations marking the 60th anniversary of the Treaty of Rome.
Europe to be largest market for Pakistan’s textiles
Pakistan shows the best potential of increasing its exports to the EU among all countries benefiting from the GSP (Generalised Scheme of Preferences) Plus.
According to EU statistics, Pakistan’s exports amounted to 6 billion euros in 2015, which was 37% more than imports from the trade bloc. Pakistan’s exports to the European market have consistently increased since 2005.
After the GSP Plus status was granted to Pakistan in January 2014, the trade flow to the European market grew rapidly by 21.5% in 2014 and 33.7% in 2015 compared to 2013.
Pakistan’s business community is not only targeting to step up exports to the EU, but is also striving to strengthen the partnership that will facilitate growth in trade with major partners such as the United Kingdom, Germany, Spain and Italy.
Published in The Express Tribune, March 18th, 2017.
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