Prime Minister Shehbaz Sharif, Field Marshal Syed Asim Munir and cabinet ministers witness the exchange of documents between the government and the Arif Habib consortium on privatization of PIA in Islamabad. Photo: Express
ISLAMABAD:
Prime Minister Shehbaz Sharif on Thursday reaffirmed Pakistan’s commitment to strengthening trade and economic cooperation with the European Union (EU), particularly through the Generalized System of Preferences Plus (GSP+) preferential trade program.
After a meeting with EU Ambassador to Pakistan Raimundas Karoblis at PM House, the Prime Minister emphasized that Pakistan is dedicated to working closely with the EU on mutually beneficial initiatives to improve trade. The GSP+ scheme gives developing countries preferential access to European markets in exchange for commitments on sustainable development, good governance, human rights, labor rights and environmental protection. Eligible countries are required to implement 27 international conventions covering these areas, and in return the EU cuts import duties to zero on more than two-thirds of the tariff lines applied to its exports. Pakistan is currently one of only eight countries benefiting from this scheme.
Noting the vital role of the GSP+ program in increasing trade between Pakistan and the EU, Prime Minister Shehbaz pledged the government’s full support to strengthen trade ties under the scheme. He also highlighted Pakistan’s broader commitment to strengthening cooperation with the EU across several areas of mutual interest, including investment, development, security, migration and climate change.
Ambassador Karoblis, who assumed his post a few months ago, expressed appreciation for the warm reception since his arrival and reaffirmed the EU’s dedication to deepening engagement with Pakistan. He stressed that trade promotion under the GSP+ program and wider commercial initiatives remain a priority for the EU. The Ambassador also welcomed the upcoming first EU-Pakistan Business Forum scheduled for April as a platform to further strengthen bilateral business and investment ties.
The Prime Minister referred to the outcome of the Seventh Pakistan-EU Strategic Dialogue held in Brussels last November under the chairmanship of Deputy Prime Minister and Foreign Minister Senator Ishaq Dar. During the dialogue, both sides reiterated their commitment to expanding trade and investment ties, particularly through the GSP+ scheme, and emphasized continued cooperation on economic, security and development fronts.
PIA privatization
In a separate development, Prime Minister Shehbaz Sharif said Pakistan International Airlines (PIA) is poised to reach new heights under the leadership of Arif Habib Consortium, which recently bought the national carrier as part of the government’s privatization initiative. Speaking at the signing ceremony of the transaction documents, the Prime Minister said that the privatization of PIA marks a historic step towards improving the airline’s performance, punctuality, cabin service and professional standards.
He congratulated the nation on the successful signing of the privatization agreement and praised Arif Habib and his team as distinguished business ambassadors of Pakistan who have contributed significantly to the country’s progress. Prime Minister Shehbaz added that the new ownership will prioritize passenger comfort and safety, ensuring a modern and professional airline experience.
These initiatives, he said, reflect the government’s broader strategy to strengthen Pakistan’s economic growth through strategic partnerships, international trade and modernization of key national institutions.
