COLOMBO : Pakistan’s High Commissioner to Sri Lanka Major General Qasim Qureshi made an open invitation to Sri Lankan exporters to utilise the current Generalised System of Preferences Plus (GSP) scheme Pakistan enjoys with the European Union (EU) and expand trade between the two countries through the existing free trade agreement (FTA). “Pakistan’s new GSP plus scheme with the EU is an opportunity for Sri Lankan exporters. For that we should jointly explore whatever is possible within the rules and regulations of the trade concession,” Qureshi said during a discussion held at the National Chamber of Commerce, recently.
Pakistan was granted the GSP plus status by the end of December 2013 till the year 2017. The GSP Plus status will allow almost 20 percent of Pakistani exports to enter the EU market at zero tariff and 70 percent at preferential rates, enabling Pakistan to export more than $1 billion worth of products to the international markets. It is said that only the textile industry would earn profits of more than Rs1 trillion per year.
Meanwhile, Pakistan’s High Commission First Secretary Hasan Zaigham joining the discussion explained Pakistan’s position as the third largest consumer of tea in the world.