GSP+ tasks

As the GSP-Plus renewal is due, Pakistan has to brace itself to meet the EU's trade regulation benchmarks. Islamabad has no choice but to ensure compliance with high standards to seek inclusion in the successor regime, which carries more stringent regulations. Islamabad has also made significant progress in upholding, legislating and implementing competition criteria and the high standards of the 27-member bloc to remain a preferred destination for trade and tariffs.

It is also worth mentioning that Pakistan exports goods worth more than $9 billion to the EU, accounting for nearly 30% of its total exports. Thus, it is indispensable to heed the note of caution delivered by EU Ambassador Raimundas Karoblis on reforms, regulations and revitalisation, as losing such a staggering amount of business would be short-sighted. All that is required is to put the country's house in order by addressing the concerns of a major trading partner, especially in the realms of labour efficiency, human rights and the technical upgrading of its export products.

The saving grace, however, is that Pakistan has an introspection period of around two years to reflect on and rectify its shortcomings. Karoblis must be taken seriously, as he went on to say that 'concessions' for Pakistan from the Brussels trading scheme should "not be taken for granted". Despite its economic downslide and a tumultuous political landscape, Pakistan has taken the necessary measures to effectively implement international conventions on labour, civil rights and hygiene standards. This effort has been acknowledged by several EU delegations that praised the pace of compliance, hoping that legislative and administrative measures would soon be fully realised.

Islamabad would be well-advised to establish a high-powered monitoring commission to ensure the stringent application of EU standards, given its commitment to implementing 27 international conventions on human rights, the environment and good governance. This is the only way to continue benefiting from the advantages of the GSP-Plus status.