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European Union decides to continue Pakistan's GSP Plus status

European Union decides to continue Pakistan's GSP Plus status
September 22, 2021 Web Desk

BRUSSELS (92 News) – The European Union has decided to extend the Generalised Scheme of Preferences (GSP+) status of Pakistan.

According to a statement by the European Commission, GSP+ status has been linked to green goals.

The new conventions pertain to greater accessibility for people with physical disability, eradication of child labour and environmental safety. "In the latest review, Pakistan's individual status was not discussed. The discussion revolved around 'new conditions' in GSP Plus, which include the six new aforementioned conventions," the statement said.

It stated that Pakistan has made considerable progress when it comes to labour laws and tackling climate change – two important conditions for the European Commission to grant or extend a GSP Plus status. The continuation of Pakistan's GSP Plus status will provide a major boost to an economic decline that had begun in 2017.

In March 2020, the EU extended Pakistan's GSP plus status till 2022.