Correct Answer:
A. 2014
The European Union granted the GSP+ (Generalized Scheme of Preferences Plus) status to Pakistan in the year 2014.
Key Details of the Status
- Effective Date: The trade incentive formally took effect on January 1, 2014, following a favorable vote in the European Parliament.
- Economic Impact: This special status allowed Pakistan to export more than 6,000 product tariff lines to the EU market at zero-percent import duties.
- Core Sectors: The textile and apparel industry has been the primary beneficiary, experiencing massive export growth to Europe because of this status.