Page 14 - TEXtalks. August- September 2023

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Pakistan’s GSP+ status needs

implementation of EU conventions

Since January 2014, Pakistan has been a benefi- this should be extended or withdrawn.
ciary of the EU’s Generalised Scheme of Prefer-
ences+ (GSP+) status. The EU is Pakistan’s top Visiting ICCI, Ambassador of Belgium to Pakistan
export partner, with the balance of trade heavily Charles DeLogne has said that implementation of
tilted in Europe’s favor. The EU accounted for 16.1 GSP+ conventions especially related to labor and
percent of Pakistan’s external trade in goods, while human rights and environmental protection would
Pakistan merely accounted for 0.3 percent of the help Islamabad to further improve its trade with EU
EU’s external trade in goods. However, Pakistan’s countries.
exports to the EU have consistently risen since the
country received GSP+ status. Data demonstrates Pakistani textile exports have surged rapidly after it
how the GSP+ resulted in an increase in EU-Paki- got the GSP+ status in the EU in 2013. The status
stan trade from 6.9 billion euros in 2013 to 12.2 is due for renewal at the end of this year.
billion euros in 2021, making Pakistan the largest Pakistan’s progress in the implementation of 27
beneficiary amongst all GSP+ countries. In conventions will be critically examined. The
December 2023, Pakistan’s GSP+ status is due to ambassador of Belgium has given timely advice to
expire, and the EU is currently reviewing whether the Pakistani authorities in this regard.

Bangladesh biggest exporter of cotton

garments to the UK conventions

Bangladesh is the biggest exporter of cotton increase its exports from the recent UK Developing
garments to the UK totaling $1.95 billion in 2021, Countries Trading Scheme (DCTS), which gives
with a market share of 21.9 percent in the catego- Bangladeshi exporters, duty-free access once the
ry, which is double the market share as compared least developed country (LDC) status expires in
to China. 2026.

A report stated that China shipped cotton apparel The study forecast that Bangladesh’s apparel
worth $910 million with a market share of 10.2 exports to the UK would reach $11 billion by 2030
percent in the same year. The report also said that under the DCTS. According to the report, the
Bangladesh's clothing exports to the UK will reach country is the second biggest exporter of all types
$11 billion by 2030. This report was prepared by of garments, behind China. But China’s market
the Research and Policy Integration for Develop- share in the UK dropped to 21 percent in 2021
ment (RAPID) agency and was presented to the from 37 percent in 2010, when considering overall
British High Commissioner to Bangladesh. The apparel exports, while that of Bangladesh doubled
study was done to explore opportunities to to 14 percent in the same period.

August/September 2023