Pakistan and EU have huge potential in bilateral trade: Federica Mogherini

ISLAMABAD, Pakistan: The European Union’s High Representative for Foreign Affairs and Security Policy Federica Mogherini has said that there is a huge potential of economic and trade relations between Pakistan and EU which needs to be fully explored and utilized.

Federica Mogherini made these remarks in a meeting with President Dr Arif Alvi in Islamabad on Monday.

The president emphasized that Pakistan values its relations with the European Union, which are moving in a positive direction in all spheres of cooperation. He noted that the EU is a traditional ally and Pakistan’s major trading partner.

Dr Arif Alvi also noted with pleasure that Pakistan’s exports to the EU have increased by 38 percent while EU’s exports to Pakistan have grown by 33 percent since inception of the GSP Plus Scheme in 2014.

President Arif Alvi further said that Pakistan sees GSP Plus Scheme as constructive engagement for the betterment of its economy and values EU’s development assistance to Pakistan.

The president said that Pakistan’s business environment has improved in the wake of government’s attempts to facilitate foreign investments. He invited the EU Community to come and invest in Pakistan, and also assured the investors full government support.

Furthermore, he underlined that Pakistan has declared adherence to the Nuclear Supply Group (NSG) Guidelines and also submitted its formal application for participation in the NSG.

The president said that inclusion of Pakistan will bring tangible benefits for the non-proliferation regime. He urged NSG to consider membership for non-NPT states on the basis of non-discriminatory and objective criteria that are simultaneously applicable to all of them.

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