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LCCI lauds EU over granting GSP status to Pakistan

LCCI lauds EU over granting GSP status to Pakistan

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) has welcomed European Parliament’s decision to grant duty free market access to Pakistan that would help give considerable boost to exports and create new jobs in the country.

In a statement issued, LCCI Acting President Mian Tariq Misbah said that approval of GSP Plus status to Pakistan by European Parliament has proved all international conventions relating to human and labour rights, environment and good governance have been implemented by Pakistan to the satisfaction of the European Parliament.

The LCCI Acting President said that exporters from various industries in Pakistan were anxiously hoping for access to European markets, which promises huge potential for multiplying the country’s current exports. He said that grant of European Union’s GSP Plus status to Pakistan will create a million jobs for Pakistani youth and boost exports by $1 billion.

He said that the Lahore Chamber of Commerce and Industry has been raising the issue for the last many years and today is a historic day for Pakistan’s business community.

This is a great opportunity that needs to be tapped up to its true potential, he added.