Pakistan will be able to maintain the status of concession in international trade?

 After getting out of the gray list of Financial Action Task Force (FATF), Pakistan has also come out of the list of third world dangerous countries.

However, it is likely to be decided in the next couple of months whether the status of GSP Plus, a trade concession scheme of the European Union, will be maintained even after 2023 or not.

European diplomatic sources told Urdu News that a European review mission in this regard has recently returned from a visit to Pakistan and its review report will be submitted in the next few months.

This review report will decide whether to continue the Generalized Scheme of Preferences Plus (GSP Plus) program or not.

According to the sources, getting out of FATF's gray list will not affect this scheme because countries eligible for this concessional trade scheme are required to adhere to 27 international conventions that deal with money laundering or terrorist financing. is not directly related to

Pakistan's current GSP plus status is up to 2023, but its continuation or termination depends on the review report of the European Commission.

According to the sources, the commission will examine in its report whether Pakistan is following international human rights agreements.

According to diplomatic officials, the main obstacle to GSP plus status in Pakistan is the implementation of laws on execution of murder suspects.

However, for the past several years, the accused have been hanged only for heinous crimes or terrorist crimes, which has not raised much objection from the European side.

Diplomatic sources said that any implementation of the GSP Plus program after 2023 could also hinder Pakistan's implementation of the status, but new conditions have not been revealed yet.

In August this year, Prime Minister Shehbaz Sharif, while emphasizing trade relations with the European Union, expressed hope that the GSP Plus status for Pakistan would remain even after 2023.

The Prime Minister made these remarks during a meeting with the new Ambassador of the European Union to Pakistan, Dr. Reena Kavinka, at the Prime Minister's House.

Shahbaz Sharif had said that the current GSP Plus scheme is mutually beneficial for Pakistan and the European Union, trade relations between the two should be increased, Pakistan will be a part of it even after 2023.