Lahore: The country’s top business body has strongly criticised statements perceived as harmful to Pakistan’s preferential trade status with the European Union under the GSP+ scheme.
In a press briefing, business representatives termed the protection of this status a national priority, warning that any attempt to undermine it could negatively impact exports and employment. They urged all stakeholders to avoid actions that could harm the country’s economic interests.
Officials highlighted that a significant share of Pakistan’s exports is directed to European markets, making the bloc one of the country’s key trading partners. Major export sectors benefiting from the scheme include textiles, leather and agricultural products.
They noted that since the granting of preferential trade access in 2014, exports to European markets have grown substantially, contributing to job creation for millions of people.
The business community also emphasised the importance of maintaining compliance with international standards to retain trade benefits, calling for unity in safeguarding the country’s economic stability.
