ISLAMABAD: The United Kingdom reiterated its commitment on Monday to retain duty-free access for Pakistan on the pattern of European Generalised System of Preferences Plus (GSP+) scheme after Brexit early next year.

The repeat assurance, first given in July, came from United Kingdom Minister of State for Trade Policy Greg Hands in a meeting with Pakistan’s Commerce Minister Pervaiz Malik, the UK High Commission said in a press release.

The UK will leave the European Union in March 2019. On the issue of implementation of the UN conventions, Pakistan has assured the visiting UK minister of state that Pakistan is serious in implementing its obligations, which are in consonance with the Constitution of Pakistan 1973.

Pakistan and UK signed enhanced strategic dialogue in 2011. In April 2016, both sides agreed to enhance the annual bilateral trade to £3 billion. Currently, the bilateral trade is £1.8bn.

“Pakistan and the UK enjoy a shared history and a shared future. At this pivotal moment, marking 70 years of diplomatic relations, we reconfirm our ambition to build shared prosperity between our two countries,” said a joint statement issued after the meeting.

“We will do this through our trade policies, and through links between businesses in both countries. Currently, the UK supports Pakistan through the EU’s trade preference scheme GSP+”, the statement said.

“As the UK leaves the EU, we recognise the need to ensure a smooth transition in our trading arrangements. The UK’s firm intention is to maintain these preferences on a bilateral basis, with the generous access to UK markets that it brings” the statement added.

“Alongside that, whilst the UK is still a member of the EU, the UK will continue to support Pakistan to benefit from the EU’s GSP+ scheme, whilst in return Pakistan pledges to continue to make progress to improve human rights, labour rights, environment and good governance in line with its line with the commitments made as part of the GSP+ scheme.”

“With more than 200 million consumers, Pakistan is an exciting market for British business. To support UK companies exporting to Pakistan and for Pakistani buyers of UK goods and services, the UK export credit agency, UK Export Finance (UKEF), support is to more than double to up to £400 million, meaning an additional £200 million to help UK exporters win, fulfil and get paid for export contracts, and Pakistan’s buyers access finance to source high-quality UK goods and services.”

“From textiles to pharmaceuticals, engineering and sporting goods, to finance, legal or business services, Pakistan has huge potential in the global economy. We are committed to work with businesses in both countries to strengthen these ties into the future”.

Published in Dawn, September 19th, 2017