INP-WealthPk

Stakeholders Urged to Take Full Benefit of GSP-Plus Regime

January 18, 2022

ISLAMABAD, Jan. 18 (INP-WealthPK): All the stakeholders should take full benefit of the Pakistan’s GSP-Plus status granted by the European Union till end 2022 to accelerate the country’s economic growth by boosting exports. This was stated by Islamabad Chamber of Commerce and Industry (ICCI) president Muhammad Shakeel Munir while addressing a roundtable conference on ‘Increased Economic Participation of Women Workers and GSP-Plus Status’ organised by ICCI in collaboration with the Trust for Democratic Education & Accountability (TDEA) and Women Workers Alliance (WWA), according to a media statement. “Pakistan is holding GSP-Plus status till end 2022 for duty-free access for its products to the EU market. However, the status’s extension beyond 2023 is critical for the country’s export-oriented industries, economic growth and expansion of the job market,” he stressed. Presidents of various key chambers of commerce and industry were also present. Mr Munir said Pakistan had been unable to take its exports to the EU countries beyond Euro 1 billion to 1.5 billion per annum since 2014, and more efforts were needed to maximise shipments to the EU market. He underscored that the key issues the exporters were facing should be addressed and they should be facilitated to help promote exports under the GSP-Plus regime. Mr Munir stressed the need for the stakeholders to put in their best efforts for compliance with the six new conventions the European Commission was attaching, relating to greater accessibility for people with physical disabilities, eradication of child labour and environmental safety for extension of GSP-Plus regime. He hoped the roundtable would go a long way in creating more awareness in the participants about the GSP-Plus regime and how to maximise its benefits for Pakistan. “The event will educate the participants about how a better collaboration between women workers and employers can help further strengthen Pakistan’s position in the EU market under the GSP-Plus regime.” Rukhsana Shama, TDEA’s deputy team leader, shed light on the introduction and objectives of GSP-Plus and its importance for Pakistan’s economic growth. “The issues facing the women workers should be urgently addressed to boost their participation in the workforce.” A representative of WWA shared the roadmap for increased participation of women workers in economic activity. Tauseef Zaman, ICCI’s former senior vice-president, highlighted the issues of employers, and put forth recommendations for enhanced participation of women workers in the workforce to improve economic growth.