Finance Minister Muhammad Aurangzeb has assured the government’s support for European Union (EU) businesses in Pakistan. He emphasized efforts to facilitate their operations, including ensuring the timely repatriation of dividends and profits. He discussed these commitments during a meeting with EU Ambassador Riina Kionka in Islamabad. The discussion focused on strengthening economic and trade relations between Pakistan and the EU.
Pakistan’s exports to the EU grew by 8.62% in the first five months of FY25. Shipments reached $3.866 billion from July to November, up from $3.559 billion last year. The EU remains Pakistan’s second-largest trading partner, benefiting from the GSP+ scheme. This agreement provides duty-free or low-duty access but requires progress on human rights, labor rights, environmental protection, and governance.
Aurangzeb appreciated the EU’s support, highlighting that GSP+ has been vital for Pakistan’s export-driven growth. He reaffirmed Pakistan’s commitment to fulfilling the scheme’s conditions. Both sides expressed their dedication to boosting trade ties and creating a business-friendly environment. The government aims to strengthen partnerships with European investors and companies.
Ambassador Riina Kionka noted that European companies see Pakistan as a growing business hub. She stressed the importance of economic collaboration and investment opportunities. The meeting reinforced shared goals of enhancing trade and investment, ensuring long-term economic benefits. Pakistan aims to attract more European businesses and expand its presence in EU markets.