{"id":25706,"date":"2024-01-11T11:00:30","date_gmt":"2024-01-11T11:00:30","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/live\/?p=25706"},"modified":"2024-01-11T11:00:30","modified_gmt":"2024-01-11T11:00:30","slug":"pakistani-business-community-should-diversify-exports-than-textiles-only-to-take-maximum-advantage-of-gsp-ambassador-eu","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/pakistani-business-community-should-diversify-exports-than-textiles-only-to-take-maximum-advantage-of-gsp-ambassador-eu\/","title":{"rendered":"Pakistani Business Community Should Diversify Exports than Textiles only to Take Maximum Advantage of GSP : Ambassador EU"},"content":{"rendered":"<h5 class=\"tdb-block-inner td-fix-index\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-25707\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/01\/EU_Ambassador_GSP.jpg\" alt=\"\" width=\"500\" height=\"378\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/01\/EU_Ambassador_GSP.jpg 500w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/01\/EU_Ambassador_GSP-300x227.jpg 300w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/01\/EU_Ambassador_GSP-80x60.jpg 80w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><em><strong>KARACHI: The Ambassador of European Union (EU) Raina Kionka has said that rather than staying confined to export textiles only, the business community of Karachi should broaden and diversify their exports to EU so as to take maximum advantage of EU\u2019s GSP Plus status for Pakistan which has recently been rolled over for four more years up to 2027.<\/strong><\/em><\/h5>\n<h5>\u201cGSP Plus status is tremendously important for Pakistan\u2019s economy whose overwhelming beneficiaries are not just textile producers but by trickle down effect, all those people as well who work in textile factories\u201d.<\/h5>\n<h5>\u201cGSP Plus status has been extremely positive and useful in economic terms during the last 10 years as it helped in increasing Pakistan\u2019s exports to EU by 108 percent while EU imports also ascended by 40 percent since the start of this programme,\u201d she added while exchanging views at a meeting during her visit to Karachi Chamber of Commerce &amp; Industry (KCCI).<\/h5>\n<h5>Raina Kionka further stated that EU\u2019s GSP Plus status for Pakistan has been rolled over without any changes to the rules framework so everything was going to stay the same up to 2027.<\/h5>\n<h5>\u201cWe also have elections in June 2024, which means there will be political changeover in the Parliament and the EU\u2019s Commission. Once everything settles, we expect that the new parliament and the council of EU member states will once again take up negotiations on a new directive for GSP Plus with Pakistan which couldn\u2019t happen last year. Although it\u2019s a four-year rollover for GSP Plus scheme but if they come up with a new regulation, it will become effective before 2027.\u201d<\/h5>\n<blockquote class=\"wp-embedded-content\" data-secret=\"BEPjzHiiZM\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/h-e-frederico-silva-ambassador-of-portugal-pakistan-can-overcome-current-crisis-portugal-ready-to-cooperate-in-energy-water-other-sectors\/\">H.E Frederico Silva, Ambassador of Portugal ; Pakistan Can Overcome Current Crisis &#8211; Portugal Ready to Cooperate in Energy, Water &#038; Other Sectors<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;H.E Frederico Silva, Ambassador of Portugal ; Pakistan Can Overcome Current Crisis &#8211; Portugal Ready to Cooperate in Energy, Water &#038; Other Sectors&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/h-e-frederico-silva-ambassador-of-portugal-pakistan-can-overcome-current-crisis-portugal-ready-to-cooperate-in-energy-water-other-sectors\/embed\/#?secret=cqpdMe8ALe#?secret=BEPjzHiiZM\" data-secret=\"BEPjzHiiZM\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h5>While identifying gems and jewellry, tourism, handcrafts and auto parts etc as potential sectors under GSP Plus scheme, the EU envoy noted that 28 percent of Pakistan\u2019s exports come to European single market which was a good number but it could be lot bigger which was one of the main things EU Delegation in Islamabad has been working on so that Pakistan\u2019s exports could be enhanced through better utilization of GSP Plus status, diversifying exports, investing in value-addition, using new technologies &amp; IT solutions for better access to EU market, besides bringing in the SMEs who are the backbone of any economy.<\/h5>\n<h5>She informed that EU\u2019s delegation in Islamabad would also like to set up a platform to promote EU-Pakistan business-to-business relations which could also help the SMEs in making good connections with businesses in EU and ultimately help the SMEs in Pakistan to also benefit from GSP Plus status.<\/h5>\n<h5>\u201cGems and Jewellry sector of Pakistan has huge potential so they must add value here and export them to the European Union rather than exporting the raw material around the region and have somebody else doing all the cuttings, polishing and making jewellry,\u201d she added.<\/h5>\n<h5 class=\"tdb-block-inner td-fix-index\">Earlier, President KCCI Iftikhar Ahmed Sheikh, while welcoming EU\u2019s Ambassador, pointed out that in addition to being a major trading partner of Pakistan, it was really encouraging to see that the EU has been supporting Pakistan\u2019s integration into the global economy while Pakistan was committed to fortify enduring, future-oriented and comprehensive partnerships for peace, development, and prosperity with the European Union.<\/h5>\n<blockquote class=\"wp-embedded-content\" data-secret=\"7s5IQXJMn9\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/ambassador-finland-h-e-hannu-ripatti-determined-to-boost-bilateral-cooperation-with-pakistan\/\">Ambassador Finland H.E Hannu Ripatti Determined to Boost Bilateral Cooperation with Pakistan<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Ambassador Finland H.E Hannu Ripatti Determined to Boost Bilateral Cooperation with Pakistan&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/ambassador-finland-h-e-hannu-ripatti-determined-to-boost-bilateral-cooperation-with-pakistan\/embed\/#?secret=02YeslS5uj#?secret=7s5IQXJMn9\" data-secret=\"7s5IQXJMn9\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h5>He noted that the EU has been the largest export destination for Pakistan, which stood at $ 8.4 billion, followed by USA at $ 5.93 billion and China at $ 2.02 billion in FY23.<\/h5>\n<h5>\u201cPakistan\u2019s exports to EU are dominated by textiles sector which is the backbone of Pakistan\u2019s exports. Last year, Pakistan\u2019s total textile exports remained at $ 16.50 billion which is almost 60 percent of the total exports.\u201d<\/h5>\n<h5>He stressed that sustainable polices were needed in Pakistan during its journey to economic recovery which would also pave way to exploit the full potential of EU\u2019s GSP Plus and attract much-needed Foreign Direct Investment. Pakistan and EU need to discuss ways to improve access of Pakistani products in the EU market, address trade barriers, foster collaboration, focus on export diversification, ensure smoother trade practices and compliance with international standards.<\/h5>\n<h5>Iftikhar Sheikh also underscored the need for skill development and capacity building initiatives to enhance competitiveness of Pakistani businesses in the international market, besides taking steps for technology transfer, knowledge-sharing and encouraging public-private partnerships.<\/h5>\n<h5>He also requested the EU Ambassador to arrange a business delegation for participation in KCCI\u2019s My Karachi-Oasis of Harmony International Exhibition scheduled to be staged in August 2024, which always attracts immense participation of international and national exhibitors.<\/h5>\n<blockquote class=\"wp-embedded-content\" data-secret=\"MRDg5T8glT\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/ambassadors-of-european-countries-call-on-speaker-national-assembly-pakistan\/\">Ambassadors of European Countries Call on Speaker National Assembly Pakistan<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Ambassadors of European Countries Call on Speaker National Assembly Pakistan&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/ambassadors-of-european-countries-call-on-speaker-national-assembly-pakistan\/embed\/#?secret=9dr1JNvp81#?secret=MRDg5T8glT\" data-secret=\"MRDg5T8glT\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: The Ambassador of European Union (EU) Raina Kionka has said that rather than staying confined to export textiles only, the business community of Karachi should broaden and diversify their exports to EU so as to take maximum advantage of EU\u2019s GSP Plus status for Pakistan which has recently been rolled over for four more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91],"tags":[126,360,172,4530,48,4529,361],"_links":{"self":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/25706"}],"collection":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/comments?post=25706"}],"version-history":[{"count":3,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/25706\/revisions"}],"predecessor-version":[{"id":25710,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/25706\/revisions\/25710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media\/25707"}],"wp:attachment":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media?parent=25706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/categories?post=25706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/tags?post=25706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}