Pakistan to continue its GSP Plus facility after Brexit

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ISLAMABAD (APP) – Pakistan High Commissioner in the United Kingdom Moazzam Ahmad Khan Monday said that Pakistan would continue to benefit from the UK’s trade preferences scheme at par with the EU GSP Plus facility after the Brexit.

He was delivering a key-note address at a webinar on “Post-Brexit UK’s GSP scheme and potential for Pak-UK trade”,jointly organised by the Pakistan High Commission, Trade Development Authority of Pakistan (TDAP),and Ministry of Commerce,a press release of Pakistan High Commission said.

Besides officials of the Ministry of Commerce,TDAP,and Chambers of Commerce & Industry,a large number of businessmen from Pakistan and UK attended the webinar.

The high commissioner highlighted the significance of the UK market for Pakistan and said that the duty-free access to Pakistan on more than 90% of Pakistan’s exports was a good omen for UK-Pakistan future trade and investment relations.

To make effective utilisation of the concessions available to Pakistan,and increase its market share post Brexit,Moazzam underlined the need for a comprehensive strategy,and effective public-private cooperation to leverage this potential.

The high commissioner apprised the participants about the efforts undertaken to address regulatory and non-tariff barriers on Pakistan products.

He also shared his outreach plan to create awareness about the trade and investment potential of Pakistan.

The high commissioner said that it was encouraging to see remarkable growth in Pakistan’s exports to the UK and increased remittances to Pakistan during the current fiscal year.

In order to sustain the current momentum,he urged the Pakistani businesses to diversify export products,establish long term business contacts with the buyers, develop compliance mechanisms,and acquire certifications.

He said that given the potential of the UK market, products like pharmaceutical, healthcare & PPE, surgical instruments,IT enabled services, processed food and, agriculture products possess immense potential and needed to be exploited.

He assured all possible assistance and facilitation from the Mission to the Pakistani business community in their marketing efforts.

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