Commerce Desk
Karachi: Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum and Chairman of the FPCCI Policy Advisory Board, has expressed concern over declining export receipts from European markets and urged the government to make safeguarding GSP+ a national priority.
Citing State Bank of Pakistan data, he said exports to Europe fell 1.84 percent year on year to $2.35 billion in July-September 2026. Receipts from Western Europe dropped 8.51 percent and Eastern Europe 15.05 percent, with Germany down 12.77 percent, Italy 8.49 percent, Belgium 7.57 percent and the Netherlands 3.07 percent. He asked the Ministry of Commerce to identify product-wise causes and address buyers’ concerns on pricing, quality and delivery.
He said the US-Iran war and closures of the Strait of Hormuz and Bab el-Mandeb have raised freight and insurance costs, while higher production costs weaken textile exporters. He welcomed the planned resumption of MSC’s weekly Karachi-Europe service.
Noting that €7.5 billion of exports used GSP+ in 2024, saving €732 million in tariffs, he urged verifiable progress on the 32 conventions ahead of a 2029 application. He also warned that the India-EU trade deal will erode Pakistan’s tariff advantage.
