Pakistan, EU agree to strengthen relations in diverse fields

Islamabad: Pakistan and European Union have agreed to work together in further strengthening relations in diverse fields.

The agreement was made between Minister for Commerce Syed Naveed Qamar and Chair of the European Parliament's committee for International Trade, Bernd Lange in Brussels. 

The Commerce Minister underscored that trade and investment ties are a key component of Pakistan's multifaceted relationship with the EU.

He said the GSP Plus has been a mutually beneficial undertaking that played an important part in the growth of Pakistan's bilateral trade with the EU countries.

The Minister highlighted that economic stabilization and growth are the key priorities of the current government particularly in the aftermath of the devastating floods and the EU remains a major partner for Pakistan to realize these objectives.

He emphasized that the GSP Plus is an excellent model for mutually beneficial cooperation between the two sides, as Pakistan's export to the EU has increased by 86 percent whereas the EU's exports to Pakistan grew by 69 percent, since inception of the scheme in 2014.

He expressed the hope that the new GSP Plus regulation would continue to focus on its central tenets of supporting sustainable development, poverty alleviation and good governance in the beneficiary countries.

On the occasion the Chair of the European Parliament's committee for International Trade thanked the Commerce Minister and agreed to work together in further strengthening Pakistan-EU relations, including enhanced exchanges.

During his meeting with European Commissioner for Agriculture and Rural Development Janusz Wojciechowski, Minister Qamar stressed the importance of enhancing Pak - EU cooperation in agriculture sector especially for modernization of agro based industries, expansion of storage facilities, research, water management, food security and flood protection.

In a separate interaction, the Minister met the Standing Rapporteur of Trade Monitoring Group for South Asia in the Committee on International Trade, Maximilian Krah and briefed about ways and means to further strengthen Pak EU trade and investment relations.

The Federal Minister for Commerce and Investment is visiting Brussels on a weeklong official visit from October 23 to 29, 2022.

The Ambassador of Pakistan to Belgium, Luxembourg and the European Union, Asad Majeed Khan and other officials were also present during the meeting.