ISLAMABAD: Pakistan remained the largest beneficiary of the European Union’s GSP+ trade preference scheme in 2024, according to the European Commission’s latest GSP+ report.
The report said Pakistan exported goods worth €7.5 billion under the scheme during 2024, resulting in tariff savings of approximately €732 million. The country’s utilisation rate of GSP+ preferences reached 95.1 percent, while the European Union accounted for 28 percent of Pakistan’s total exports.
According to the report, Pakistani textiles, garments, leather products, processed food and other exports continued to benefit significantly from preferential access to the EU market.
The European Commission noted that Pakistan maintained ratification of all 27 international conventions linked to the GSP+ scheme and continued to cooperate with the EU’s monitoring mechanism.
The report highlighted several institutional and legislative developments, including the National Commission for Human Rights obtaining “A” status, legislation for establishing the National Commission for Minorities, prison reforms, implementation measures under anti-torture laws, and legal reforms aimed at protecting women and preventing child marriages.
It also acknowledged Pakistan’s progress in labour rights, efforts to eliminate forced and child labour, climate policies, carbon market guidelines, biodiversity protection measures, new anti-narcotics legislation, and the introduction of a digital case management system.
The European Union also reaffirmed its commitment to provide €400 million in development and reform assistance to Pakistan.
