Prime Minister Shehbaz Sharif reaffirmed Pakistan’s commitment to strengthening trade and economic cooperation with the European Union (EU), particularly through the Generalised Scheme of Preferences Plus (GSP+) preferential trade programme. Speaking after a meeting with EU Ambassador Raimundas Karoblis at the PM House, he emphasized that Pakistan is dedicated to working closely with the EU on mutually beneficial trade enhancement initiatives.
The GSP+ scheme offers developing countries preferential access to European markets in exchange for commitments on sustainable development, good governance, human rights, labor rights, and environmental protection. Eligible countries are required to implement 27 international conventions covering these areas and, in return, the EU reduces import duties to zero on more than two-thirds of tariff lines applied to its exports. Pakistan is currently one of only eight countries benefiting from this scheme.
Prime Minister Shehbaz pledged the government’s full support for enhancing trade relations under the GSP+ programme, while also highlighting Pakistan’s broader commitment to strengthening cooperation with the EU across areas like investment, development, security, migration, and climate change.
EU Ambassador Karoblis welcomed the upcoming first EU-Pakistan Business Forum scheduled for April as a platform to further enhance bilateral business and investment ties, following the seventh Pakistan-EU Strategic Dialogue held in Brussels last November under the leadership of Deputy Prime Minister Senator Ishaq Dar.
In a separate development, Prime Minister Shehbaz Sharif announced that Pakistan International Airlines (PIA) will achieve new heights under the leadership of Arif Habib Consortium, which recently acquired the national carrier as part of the government’s privatisation initiative. He congratulated the nation on the successful signing of the privatisation agreement and praised Arif Habib and his team for their contributions to Pakistan’s progress.
These initiatives reflect the government’s broader strategy to enhance economic growth through strategic partnerships, international trade, and modernization of key national institutions.