Exports to Spain up 85% after signing GSP-Plus

Our Correspondent

ISLAMABAD: Pakistan's exports to Spain increasedby 85 % after the signing of Generalized Schemes of Preference (GSP-Plus) in January, 2014.
Due to manifold increase in exports, Spain has emerged as third larger export destination for Pakistan's exports, official sources said.
Prior to signing of GSP-Plus facility in 2013, the country's exports to Spain were Just Euros 4.2503 million. The exports have now increase up to Euros 7087.83 million as recorded in December 2016, showing highest increase in Pakistani exports to Spain, Senior official of Ministry of Commerce and Textile told media yesterday.
New trade policy mainly targeted the international and internal trade for improving supply chain, enhancing use of technology and providing competitiveness," he said.
"We are working to search new trade avenues and markets in different regions of the world for promotion of country's trade. He said that Free Trade Agreements (FTAs) with Turkey, Thailand and Iran were under negotiation phase and agreement would be finalized in coming months.
The official said that priority of the government would be to initiate the FTAs on same pattern with the Latin American Countries for promotion of free trade.