FPCCI Starts Lobbying For Extension In GSP Plus Status


FPCCI starts lobbying for extension in GSP Plus status

ISLAMABAD, (UrduPoint / Pakistan Point News - 9th August, 2016) : The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has started lobbying for extension of Generalised System of Preferences (GSP) Plus status granted to Pakistan by European Union in 2014. FPCCI President, Abdul Rauf Alam has asked all the vice presidents of the Apex chamber and other businessmen to use their connections and forcefully present case of Pakistan for extension in the trade relaxations. Speaking to the diplomats, he said the GSP Plus scheme, which provided duty concession on export of many goods, should be approved for the next term. He said that the government has tasked embassies to start lobbying for approval by the EU Parliament of the extension in the scheme, which will be debated in coming months, while business community should also use their connections in the larger national interest.

In January 2014, the EU had granted the GSP Plus status offering duty-free access to their markets for two years.

Now, the facility will be extended for the next term on the basis of progress and achievements over the past two years. Alam expressed the hope that the EU Parliament, keeping in view the overall situation, would give approval for the extension. The countries that are opposing trade relaxations to Pakistan despite war on terror and natural disasters are not serving humanity, he said.

Brexit has increased challenges and opportunities while success in war on terror is linked to economic development, said Alam.