EU grants Pakistan GSP Plus status

BRUSSELS: The European Parliament has granted GSP Plus status to Pakistan. 406 parliamentarians expressed their support for Pakistan and the status has been granted till 2017.

The status will prove to be of great benefit to Pakistan’s textile manufacturers and exporters who will now have access to 27 European countries without having to pay duties.

Textile exports had been declining in Pakistan, as manufacturers and exporters were finding it hard to compete with Sri Lanka and Bangladesh who already had duty-free access to European markets.