European Union (EU) Ambassador Lars Gunnar Wigemark has indicated that Pakistan qualifies for the Generalised Scheme of Preferences Plus (GSP+) status as per the new EU regulations, but it still has to submit an application to the EU Commission in Brussels in order to get the status.

The EU ambassador, who was speaking at the Lahore Chamber of Commerce and Industry, said that the ball is now in Pakistan’s court if it wants to effectively negotiate with the EU in obtaining trade concessions in 2014, but Pakistan has still not applied for it.

He said that the new regulations have been adopted to accommodate countries such as Pakistan, as the EU treats its trade partners equally. For securing the concessions, he said it is imperative that Pakistan’s government negotiate in a timely manner, as the EU Commission in Brussels will take at least six months to evaluate the application. “We have expectations and hope that Pakistan may qualify for GSP+ in the EU,” he added.

The envoy observed that the EU is the largest trading partner of Pakistan, with an annual trade volume of over €8 billion. “Pakistan is an attractive market for the EU for trade and investment. The Pakistani diaspora in the EU is also strong,” he said.He said that the EU Foreign Affairs Council, consisting of the foreign ministers of all 27 member states of the European Union, had approved a joint EU-Pakistan Five-year Engagement Plan on January 23, 2012. The programmed includes cooperation in a wide range of areas, from trade to foreign and security policies.

The EU envoy said he personally believes that talks between Pakistan and India will continue in the future for the benefit of the people in the two countries.He recalled that the EU has already lifted the ban on the imports of seafood from Pakistan, which the 27-nation bloc had imposed in 2007. “This is a real breakthrough that should also inspire other industries in Pakistan to increase their exports to EU markets,” Wigemark said.