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European Union gave status of GSP+ to Pakistan in which year?

A. 2014
B. 2015
C. 2016
D. 2017
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.

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