India-EU FTA | Pakistan Moves to Assess Export Fallout After Historic 'Mother Of All Deals' Concluded

Pakistan on Thursday said it is in contact with European Union authorities to assess and address any potential impact on its exports following the conclusion of a landmark free trade agreement between India and the 27-nation bloc.

India and the EU finalized the long-pending agreement earlier this week, described by officials as one of the most comprehensive trade pacts negotiated by the bloc.

Responding to questions during a weekly media briefing, Foreign Office spokesperson Tahir Andrabi said Pakistan was aware of the agreement and had reviewed reports and available details related to the deal.

GSP+ a Pillar of Pakistan-EU Trade

Pakistan’s exports to the EU have traditionally benefited from the GSP+ preferential trade scheme, which provides duty-free access for a wide range of products, especially textiles and apparel. The scheme, granted to Pakistan in 2014, is due to expire in December next year.

According to the Foreign Office, the GSP+ status has played a significant role in boosting Pakistan’s exports, with textile shipments to the EU more than doubling following the introduction of concessional tariffs.

Engagement With EU Ongoing

Andrabi said Pakistan has been engaging both bilaterally with EU member states and collectively with EU institutions in Brussels to ensure that its trade interests are safeguarded.

He added that the EU remains Pakistan’s largest export destination, with total bilateral trade valued at close to 12 billion euros, and that discussions on trade preferences have featured in recent strategic dialogues with the bloc.

-With inputs from PTI

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