Karachi: The Pakistan-European Union (EU) Business Forum of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), on Wednesday, called for immediate measures to safeguard Pakistan’s export competitiveness, vowing to play a proactive role in identifying emerging opportunities and addressing market challenges to enhance Pakistan’s exports to the European Union.
President FPCCI, Atif Ikram Sheikh, in a statement issued here, apprised that the meeting of the Forum was organized to deliberate on the implications of the recently concluded EU-India Free Trade Agreement (FTA) for Pakistan’s exports and future trade prospects in the European Union.
He observed that the EU remained one of Pakistan’s most important export destinations, with bilateral trade exceeding US$ 12.6 billion annually. He stressed on timely policy reforms, exporter facilitation, ease of doing business, along with accelerating preparations for GSP+ renewal and compliance with new EU regulatory requirements.
Head of the Pakistan-EU Business Forum of FPCCI, Zubair Baweja, while chairing the meeting highlighted that the Forum was established to strengthen Pakistan’s trade and economic relations with the European Union, promote business linkages with both Western and Eastern Europe and serve as an effective platform for interaction with European institutions, and missions of Pakistan and EU.
Omer Hameed, Economic Minister, Pakistan Mission to the European Union, addressing the participants virtually from Brussels, noted that Pakistan would continue to benefit from the GSP+ scheme until the end of 2027, highlighting the likely impact of the EU-India FTA on Pakistan’s exports.
He stressed on utilizing this period to enhance industrial competitiveness, improve product quality, diversify exports, comply with emerging EU sustainability regulations, and strengthen its position in the European market.
Dr. Junaid Ahmed, Chief of Research, Pakistan Institute of Development Economics (PIDE), presented a comprehensive analysis of the agreement and observed that although the FTA would gradually reduce Pakistan’s tariff advantage over India, the greater challenge lies in improving structural competitiveness through lower energy costs, better logistics, easier access to finance, export diversification, technological upgradation, and greater value addition. He emphasized that Pakistan must move beyond dependence on traditional textile exports and expand into higher-value manufacturing and knowledge-based sectors.
The participants of the forum unanimously agreed to play a proactive role by maintaining regular diplomatic and business engagement to identify emerging opportunities, address market challenges, and formulate policy recommendations for enhancing Pakistan’s exports to the EU and safeguard and enhance Pakistan’s trade and economic interests in the European market.