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October 22, 2019

‘Considerable progress on GSP Plus conventions’

Business

October 22, 2019

ISLAMABAD: Pakistan has made progress in implementation of all the conventions needed to continue tax concessions for the country’s exports in the 27-member block European Union, a commerce minister said on Monday.

“Pakistan has made considerable progress on 27 conventions of European Union (EU),” Adviser to the Prime Minister on Commerce Razak Dawood said. “Implementation of 27 conventions is in Pakistan’s own interest and government is putting all its efforts to implement the EU conventions,” he said in a statement.

PM adviser was talking to Bahia Tahzib-Lie Human Rights Ambassador of Ministry of Foreign Affairs of the Netherlands and Netherlands Ambassador to Pakistan Wouter Plomp. Secretary Commerce Sardar Ahmad Nawaz Sukhera and senior officials of the ministry of commerce also attended the meeting.

Dawood highlighted the importance of the European Union’s development support especially ‘growth for rural advancement and sustainable progress’ that aims at strengthening the small and medium enterprises (SMEs) in the country. “The project came at a time when current government is focusing on the development of SMEs sector,” he said.

PM adviser said the government is putting all efforts to reduce cost of doing business in the country. He also invited Dutch companies to invest in various sectors of economy as the government is offering attractive incentives to foreign investors.

Netherlands ambassador Plomp said Dutch companies are interested in investing in maritime and agriculture sectors of the country owing to improved business climate. He also said recently a Dutch dairy company FrieslandCampina invested $446 million in Engro Corporation. “Bringing international companies in Pakistan will help attract more foreign direct investment in the country,” he added.

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