GSP Plus | MCQs

Explanation

The GSP+ status provided 66% relief on tariffs for Pakistani goods.

This allowing easier access to European markets by reducing trade barriers.

Explanation

The main sectors that benefitted from the GSP+ have been textile and garments.

This besides earning foreign exchange for the country.

It provided employment opportunities, especially to women.

The European Union (EU) has granted Pakistan the status of GSP (Generalized System of Preferences) Plus.

It allows Pakistan to export certain products to the EU market at preferential tariff rates.

This status is granted to developing countries that meet certain criteria.

It aims to promote economic development and reduce poverty.

Explanation

The GSP+ status provided 66% relief on tariffs for Pakistani goods.

This allowing easier access to European Union markets by reducing trade barriers.