According to state-owned Radio Pakistan, Finance Minister Muhammad Aurangzeb stated on Friday the government’s dedication to helping European Union (EU) companies operate in Pakistan, including making sure that dividends and profits are promptly repatriated.
The first five months of FY25 saw an 8.62% increase in exports to European nations in January, primarily due to increased shipments to western states. The State Bank of Pakistan reports that Pakistan’s exports to the EU increased from $3.559 billion to $3.866 billion between July and November.
With duty-free or minimally-duty access due to its GSP+ status, the EU is Pakistan’s second-largest trading partner. The plan does, however, call for noticeable advancements on 27 international agreements pertaining to good governance, environmental preservation, human and labor rights, and climate change.
In an interview with European Union Ambassador Riina Kionka in Islamabad, Aurangzeb conveyed gratitude for the EU’s assistance to Pakistan, highlighting the significance of the GSP Plus facility. He emphasized how important GSP+ has been to Pakistan’s attempts to promote export-led economy.
According to the report, “the two sides reaffirmed their shared commitment to create a thriving and mutually beneficial business environment for both sides and to enhance the economic and trade ties between Pakistan and the European Union.”
According to the research, Dr. Kionka emphasized that Pakistan is increasingly being seen by European businesses as a center for possible commercial prospects.
