Prime Minister Shehbaz Sharif on Thursday said Pakistan was committed to working closely with the European Union (EU) on mutually beneficial trade enhancement initiatives, especially through the GSP+ status.

According to a handout by the Prime Minister’s Office (PMO), PM Shehbaz made these remarks while meeting the EU’s Ambassador to Pakistan Raimundas Karoblis, who called on him in Islamabad.

According to the EU, GSP+ status is a special incentive awarded to developing countries to “pursue sustainable development and good governance” in exchange for cutting import duties to zero on two-thirds of the tariff lines of its exports. Governments with this status need to implement 27 international conventions on human rights, labour rights, good governance and the environment.

According to the handout issued on Thursday, the premier welcomed the ambassador and reaffirmed “Pakistan’s commitment to further strengthen cooperation with the EU in all areas of mutual interest, particularly trade, investment, development, security, migration and climate change”.

“The prime minister emphasised upon the critical role of the GSP+ scheme in enhancing trade between Pakistan and the EU, and said the government of Pakistan is committed to working closely with the EU on mutually beneficial trade enhancement initiatives, especially through the GSP+,” it said.

He also expressed satisfaction at the seventh round of Pakistan-EU Strategic Dialogue held in Brussels in November last year, it added.

Meanwhile, the EU ambassador expressed gratitude and deep appreciation to the prime minister for the warm welcome he had received since his arrival in the country and assured him that he would continue to work steadfastly to strengthen Pakistan-EU relations across all spheres.

He also conveyed good wishes from the EU leadership to the prime minister, and said the EU would continue to engage closely with Pakistan on enhancing trade, under GSP+ as well as through trade promotion activities such as the first-ever EU-Pakistan Business Forum, which would be held in April.

The GSP+ status was granted to Pakistan by the EU in 2014, resulting in a 108 per cent increase in Pakistani textile exports to the EU due to concessional tariffs.

In October 2023, the European Parliament unanimously voted to extend the GSP+ status for another four years until 2027 for developing countries, including Pakistan.

According to the EU’s GSP Convention Compliance Database, Pakistan has ratified 27 international conventions, most recently ratifying the International Covenant on Civil and Political Rights (1976) and the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment (1987) in 2010.

Regarding the EU’s monitoring of Pakistan, the body prioritised 13 key areas, including enforced disappearances, torture prevention, and freedom of expression and belief and minority rights.

Last month, the EU had welcomed Pakistan’s progress towards implementing 27 international conventions under the GSP+ framework.