Belgian envoy warns of new GSP+ regulations

KARACHI:

Belgian Ambassador Charles Delogne said that although the EU’s GSP Plus for Pakistan has been extended for another four years until 2027, a new GSP Plus regulation will come into force much earlier. Therefore, the business community of Pakistan should inform the political authorities that Pakistan should apply for the new arrangement under GSP+.

Speaking at a meeting during his farewell visit to the Karachi Chamber of Commerce and Industry (KCCI), the Belgian envoy pointed out that the GSP+ was more than just an agreement signed by the EU with those countries considered like-minded in some issues including human rights, labor rights and the environment. This is extremely important for a country like Pakistan, which is suffering a lot from the adverse effects of climate change, he said according to a statement issued by KCCI on Monday.

The Belgian envoy emphasized that Pakistan is making good use of the GSP+ agreement, making the EU Pakistan’s main trading partner.

He stated, “In 2023, bilateral trade between Belgium and Pakistan remained balanced, which is positive as Belgium is not contributing to the payment crises that Pakistan is facing. Being a small country, foreign trade is vital for Belgium. The Belgian economy is based on importing goods, adding maximum value through transformation and then exporting them. This is why foreign trade and free trade are essential for Belgium.”

Earlier, KCCI President Iftikhar Ahmed Sheikh also emphasized the need to learn and benefit from Belgian experience in ports and shipping, which will help Pakistan enhance its port capacity through technological developments, infrastructure improvements and increased efficiency.

“To reduce trade barriers, there is a need to simplify customs procedures, enhance ease of doing business and make it easier for Small and Medium Enterprises (SMEs) to boost trade,” he said.

Published in The Express Tribune, May 21^St2024.

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