ISLAMABAD: The PTI government is hoping to get extension of the GSP Plus status from the European Union (EU) till 2022. The status will expire in the next month.
According to the details, Abdul Razak Dawood, Adviser on Commerce, Textile, Industry and Production and Investment, stated this in a press conference held on Thursday here at Ministry of Commerce.
He said that Prime Minister Imran Khan met with influential persons from the EU in Davos for lobbying to get the status of GSP plus extended.
“I myself met with the members of the commission, council and parliamentarians in Brussels and discussed the extension on GSP Plus,” He also said.
The sources said that talking about his meeting with United States Commerce Secretary Wilbur Ross, Dawood said the US official discussed ways and means to further enhance trade ties with Islamabad as committed by US President Donald Trump with Prime Minister Imran Khan thrice.
He also expressed hope that Pak-US economic relations would improve after signing of a peace agreement between the US and the Afghan Taliban.
The US commerce secretary assured Pakistan that it would convene a meeting of Trade and Investment Framework Agreement (TIFA) and a business opportunity conference for promotion of investment in Pakistan.
Accoring to Mr Dawood, A GSP report was also shared with the federal government by the US officials where Pakistani businessmen could improve exports, added, “We will analyze the GSP US report and also consult with the stakeholders.”
Earlier in the last year, Advisor to Prime Minister on Commerce, Investment, Industries and Textile, Abdul Razak Dawood on Tuesday said that the second phase of Free Trade Agreement (FTA) with China is going to be operational from helping Pakistan come at par with the Association of South East Asian Nations (ASEAN) in Chinese market, providing a huge opportunity of tariff relaxation to the manufacturers especially the garment sector to enhance their export volume with the potential to grow by 20 times.
He was addressing the inaugural ceremony, of the 35th World Fashion Convention organized by Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA) in collaboration with International Apparel Federation (IAF).