Pakistan feels the GSP (Generalised System of Preference) Plus status will boost the country’s business with European countries and enable it to develop almost all sectors of the economy including leather and sports goods. GSP Plus is seen as demonstrating the trust and confidence of EU countries in the quality and competitiveness of Pakistan’s goods and products. The GSP Plus scheme is not only expected to boost Pakistan's exports to EU but would also strengthen its economy through greater trade, increased economic activities and creating employment opportunities for local people.
The country’s value-added sector needs to modernise its operational system. Trade and industrial sectors would have to adopt modern systems of computerised delivery besides paying proper attention to export growth in volume by making its space in European markets. Pakistan has a free trade agreement with Malaysia and China. The All Pakistan Bedsheet and Upholstery Manufacturers Association (APBUMA) has expressed reservations and fears about this trade agreement and bilateral trade with India. Following the FTA with China, Pakistani markets have been flooded with Chinese products. And with a proposed agreement on bilateral trade with India, APBUMA fears India can dump its cheap yarn in Pakistan.
