Islamabad: According to media reports released on Sunday, the European Union (EU)-Pakistan Business Forum for Small and Medium Enterprises (SME) would be launched on September 8 in an effort to increase commerce.

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According to the information shared, the forum will be inaugurated by the European Union (EU) delegation to Pakistan, and representatives of local SMEs from various sectors, including information technology, jewellery and mining, fashion-wear, tourism and travel, gems, and handicrafts, will attend the forum’s launch.

In addition, the event will give chances to enhance the application of the GSP+ (Generalised Scheme of Preferences Plus). The initiative is designed to encourage more European businesses to import, as well as attract additional EU investment and promote international sustainability norms. The event will also examine COVID-19’s impact on commerce and encourage firms to take advantage of GSP.

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It’s worth noting that the GSP+ is a unique trading agreement under which poor countries are given privileged access to European markets by having their tariffs reduced to zero. In exchange, the countries must implement 27 agreements on environmental protection, labour rights, and human rights.

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