ENGLISH 4 PAKISTAN AND EUROPEAN UNION TRADE RELATIONS: IMPACT OF GSP PLUS STATUS ON ACCESS TO EUROPEAN MARKETS

Authors

  • Rizwana Jabeen Assistant Professor Department of International Relations Federal Urdu University, Karachi.
  • Mamnoon Ahmed Khan Assistant Professor Department of International Relations Federal Urdu University, Karachi.
  • Anila Sultana lecturer, Department of Economics, Federal Urdu University of Science, Arts and Technology Karachi,

Abstract

The Generalized System of Preferences (GSP) Plus is a method by which the European Union (EU) aims to support economic growth as well as free trade with developing nations through duty-free access to EU markets. Pakistan was also granted GSP Plus status as a result of joining the EU's tariff-free entry markets for a number of its exports. Pakistani exports to the EU have climbed by more than 47.25 percent since 2013, with textile exports increasing by 66.6 percent. The report examines how GSP Plus has aided Pakistan's exports to the EU and alleviated trade barriers between the EU and Pakistan, while also making recommendations to strengthen prospective commercial links between the two countries. When the GSP Plus status is fully utilized, it implies that the government has a big current account deficit, concerns with public debt, and a weak balance of payments, all of which will result in the collection of additional foreign reserves for a country like Pakistan.

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Published

2022-03-30

How to Cite

Jabeen, R. ., Khan, M. A. ., & Sultana, A. . (2022). ENGLISH 4 PAKISTAN AND EUROPEAN UNION TRADE RELATIONS: IMPACT OF GSP PLUS STATUS ON ACCESS TO EUROPEAN MARKETS. International Journal of Islamic Business, Administration and Social Sciences (JIBAS), 2(1), 45–56. Retrieved from https://jibas.org/index.php/jibas/article/view/36

Issue

Vol. 2 No. 1 (2022): JIBAS (JANUARY to MARCH)

Section

Articles