Quetta: The European Union (EU) ambassador to Pakistan Androulla Kaminara on Saturday (October 23) said that the EU is extending financial cooperation for Balochistan development, news sources reported.
Under the corporation scheme, various sectors in Balochistan and other areas of the country will be supported for sustainable development. Moreover, the ambassador also said that the EU-Pakistan bilateral trade is also steadily increasing in the past few years and this trend is going to strengthen further. Reportedly, the EU is focused on engaging those sectors which need immediate attention including human development.
Ambassador Kaminara further said that Pakistan and the EU have signed a new strategic engagement plan to improve the climate situation as well. This will improve the development and mitigate the effects of the environment on the human development of the province.
It is pertinent to note that the EU has extended the Generalised Scheme of Preferences Plus (GSP+) status to Pakistan and the review for the further extension for the next 2 years is underway. After the successful implementation of the EU treaties, (which are 27 in total and Pakistan is a party to all of them) the GSP+ status will be extended till 2024. Under the GSP+ status, Pakistan gets special traffic duties concession and access to the greater market of member countries of the EU, which has steadily reached billions of Euros in the last few years.