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Pakistan Reaffirms Commitment to EU Trade Relations Amid Bid to Boost Economic Growth

Strategic Insights

— 2 min read

Prime Minister Shehbaz Sharif has reaffirmed Pakistan's commitment to the Generalised Scheme of Preferences Plus (GSP Plus) arrangement with the European Union, a move aimed at bolstering the country's economy and strengthening trade ties with the bloc. The prime minister made the statement during a meeting with European Union Ambassador to Pakistan Riina Kionka, who is set to depart the country.

Pakistan's commitment to the GSP Plus scheme comes amid efforts to boost economic growth, which has been hindered by domestic political developments, including the 2022 floods that ravaged the country. The prime minister praised the ambassador's efforts in providing significant support from the EU during the crisis.

Separately, in a review meeting to assess progress on the appointment of technical experts across federal ministries and departments, Prime Minister Shehbaz Sharif stressed the importance of merit-based appointments and transparency. The Public-Private Partnership Authority (PPPA) briefed the meeting on ongoing initiatives to streamline expert appointments and increase investor confidence.

Key Takeaways:

  • Pakistan reaffirmed its commitment to the GSP Plus arrangement with the European Union, with Prime Minister Shehbaz Sharif highlighting the scheme's mutual benefits.
  • The prime minister praised European Union Ambassador to Pakistan Riina Kionka for her efforts in providing significant support from the EU during the 2022 floods.
  • The prime minister stressed the importance of institutional reforms in the federal government, including merit-based appointments of experts in government departments.
  • The Public-Private Partnership Authority (PPPA) is working to streamline expert appointments and increase investor confidence, with 15 technical expert positions already filled and 47 additional positions underway.
  • Sectoral roadmaps for investment have been prepared for information technology and telecom, railways, and tourism, while sectoral frameworks related to investment in food security, maritime affairs, minerals, tourism, industry, housing, and energy are nearing completion.
  • Pakistan has prepared pitchbooks for 18 economic sectors to allocate projects for investment from Saudi Arabia, the United Arab Emirates, Azerbaijan, Qatar, and Kuwait.

Statistics:

  • 15 technical expert positions have been filled so far.
  • 47 technical positions are currently under appointment process.
  • 30 candidates have been shortlisted for the appointment of chief executive officers, chief financial officers, and managing directors in 7 key ministries and departments.
  • Interviews for appointments in the Petroleum Division and National Vocational and Technical Training Commission have already been completed.
  • Federal ministries have designated focal teams to formulate strategies for investment, and sectoral roadmaps have been prepared for key sectors.
  • Pitchbooks for 18 economic sectors have been prepared for investment projects from international partners.

Sources:

  • [No specific source mentioned in the text]

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