The European Council is expected to give its final approval for the extension of the current Scheme soon, claims Commerce Minister

DNA

ISLAMABAD: Federal Commerce Minister Gohar Ijaz has announced that the EU MEPs have decided to roll over the rules on the Generalised Scheme of Preferences (GSP) till 2027.

The European Council is expected to give its final approval for the extension of the current Scheme soon.

‘I take this opportunity to reiterate Pakistan’s commitments under the Scheme for the betterment of all’, he said in his Tweet.

He thanked the EU Parliament for living up to its commitment to facilitate trade from developing countries.

Meanwhile the EU Ambassador in Pakistan Riina Kioka said that this rollover is proposed so as to avoid a cliff edge at the end of 2023. It is unrelated to Pakistan’s performance or that of any other beneficiary country. Member States will decide soon. Monitoring will continue, she clarified.