TDAP’s consultation with exporters on UK’s new GSP Scheme
KARACHI: Trade Development Authority of Pakistan (TDAP) held a consultative session with concerned trade bodies and exporters here in its office to develop recommendations for making the new United Kingdom’s GSP scheme more user friendly, improving trade between the UK and Pakistan, and address issues, if any, being faced on Pakistan side under the current EU-GSP scheme.
TDAP statement issued here said that during the consultative session, specific areas relating to the GSP regime and Most Favourable Nation (MFN) tariffs as well as avenues for improving overall trade and cooperation between the UK and Pakistan were covered.
This included broad parameters for the new GSP scheme and MFN tariff rationalization, origin certification system and rules of origin, standards and compliances, and possible avenues for improving trade with the UK which the third largest export destination for Pakistan’s products.
The United Kingdom Government is developing its own scheme for the generalized system of preferences (GSP) to be effective from January 2021 after completion of the transition period for Brexit.
Additionally, the UK is also undertaking a review of its current MFN tariff regime for its further rationalization.
They have sought inputs from Pakistan for designing of the new scheme which will maintain the current level of preferential access available to Pakistan under the EU’s GSP/ GSP Plus scheme.
The TDAP is planning to hold similar consultative sessions with trade bodies and exporters during the next week on 9, 10 and 11 March 2020 in Lahore, Faisalabad and Sialkot respectively. – APP