Pakistan and European Union (EU) have agreed to implement international conventions under the Generalised Scheme of Preferences Plus (GSP+), and enhance bilateral trade, investment for improving the business climate and address the issues hampering its progress.

The meeting of the EU-Pakistan Joint Commission was held by video conference on June 16, 2021. During the meeting it was also decided that both parties would work to further enhance Pakistan’s efforts towards full implementation of the 27 international conventions stipulated under the EU’s unilateral trade preferences scheme, the Generalised Scheme of Preferences Plus (GSP+).

The official communique released said, “The plenary of the commission was preceded by sub-group meetings on Development Cooperation, held on February 25 2021; Trade, held on March 2, 2021; and Democracy, Governance, Rule of Law and Human Rights, held on June 1, 2021”.

The members of the meeting also discussed the long-term socioeconomic impact of covid-19 pandemic and the ongoing vaccination cooperation between EU and Pakistan.

The EU officials appreciated Pakistan’s efforts for sustainable economic recovery after pandemic. The members later discussed the issue of climate change and cooperation in the fields of education, culture, science and technology.

The EU informed Pakistan about the European Green Deal, connectivity and digitalisation. Whereas the officials from Pakistan briefed about various ongoing climate projects, including eco-system restoration, green stimulus and national electric vehicle policy.

Pakistan acknowledged the extension of its GSP+ status as a mutually rewarding step and affirmed its full commitment to fulfill its obligations under the GSP+.

From : pk.mashable.com

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