UK supports GSP plus status for Pakistan

ISLAMABAD: UK government assured Pakistan of its support to the status of generalised scheme of preferences (GSP) plus granted to the country by the European Union.

Martin Donnelly, secretary of Department for International Trade (DIT), during a recent meeting with Secretary Commerce Azmat Ali Ranjha, said the post-Brexit UK will be more open to the outside world, especially toward countries like Pakistan with which it has strong historical and cultural linkages. 

A statement on Friday said Ranjha is on an official visit to the UK to assess post-Brexit trade opportunities in the country.  On 29 September, Ranjha along with Syed Ibne Abbas, Pakistan High Commissioner to the UK met with Sir Martin Donnelly, Permanent Secretary at the DIT to discuss the modalities of the future trade relationship between Pakistan and the UK in the backdrop of Brexit. 

During the meeting, the two sides showed complete consensus on the need to continue with the strong commercial relations, which exist between the two countries.  The commerce secretary conveyed the government of Pakistan’s desire to engage fully with the UK by continuing with the GSP plus like arrangement in the short-term but later on expanding it to a preferential or a free trade agreement with UK. 

Both sides showed commitment to continue with an arrangement, which could maintain Pakistan’s preferential access to the UK markets on lines similar to the GSP plus.  UK is an important export destination of Pakistan’s products. The total volume of merchandise trade between the two countries during the last year was £1,584 million, which includes Pakistan’s exports of £1,069 million to UK. 

The balance of trade is tilted in Pakistan’s favour. With the renewed commitment showed by the British government to continue to support current trade arrangement with Pakistan, it is hoped that the volumes of trade will continue to expand and the trade target of £4 billion set in the latest review of joint trade and investment roadmap under the enhanced strategic dialogue will be achieved.