Islamabad (TDI): Finance Minister Muhammad Aurangzeb on Friday expressed the government’s commitment to supporting European Union (EU) businesses in Pakistan and facilitating their operations, which included ensuring the timely repatriation of dividends and profits.
Talking to the Ambassador of the EU, Riina Kionka, Aurangzeb expressed appreciation for the bloc’s support for Pakistan, especially the importance of the GSP Plus facility.
He said that GSP+ had been critical for Pakistan’s efforts to drive export-led development.
The two sides reaffirmed their shared commitment to strengthening the economic and trade relations between Pakistan and the European Union and to creating a thriving and mutually beneficial business environment for both sides.
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Dr Kionka said that European companies are increasingly viewing Pakistan as a hub for potential business opportunities.
In January, exports to European countries grew 8.62% in the first five months of FY25, driven by higher shipments to western nations.
Pakistan’s exports to the EU increased to $3.866 billion in July- November, up from $3.559bn a year earlier, according to the State Bank of Pakistan data.
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The European Union is Pakistan’s second-largest trading partner, with GSP+ status granting duty-free or minimal-duty access.
However, the scheme requires tangible progress on twenty-seven international conventions covering human and labour rights, environmental protection, climate change, and good governance.
