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ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan and a European Union parliamentary delegation on Monday agreed to strengthen the existing partnership between the two sides under the Generalized Scheme of Preference Plus (GSP Plus) framework, the commerce ministry said as both sides discussed trade, investment and human rights. 

A high-level committee of the EU parliament visited the Ministry of Commerce in Islamabad to hold talks with Khan. The two sides held discussions on sustainable development and transparent relations between Pakistan and the EU, with Khan briefing the EU delegation regarding Pakistan’s progress on climate action, human rights and labor reforms. 

Pakistan is a beneficiary of the GSP Plus scheme, which grants countries’ exports duty-free access to the European market in exchange for voluntarily agreeing to implement 27 international core conventions, including those on human and civil rights. In October 2023, the EU unanimously voted to extend GSP Plus status until 2027 for developing countries, including Pakistan.

“Pakistan and the European parliament delegation agree to strengthen partnership under the GSP Plus framework,” the commerce ministry said in a statement. 

Khan said Pakistan attaches great significance to its ties with EU, informing the delegation that it has recently introduced laws to protect journalists and promote religious harmony.

The minister also highlighted Islamabad’s recent measures to create a conducive environment for foreign investment, pointing out that the country has tried to tackle issues related to high taxation, energy costs, and particularly interest rates, which he said have been reduced from 22 percent to 11 percent.

“He reaffirmed that Pakistan’s economic future lies in industrial expansion, skill development, and human resource empowerment, noting that over 60 percent of Pakistan’s 250 million population is below the age of 30— making skill training and vocational education a key national priority,” the commerce ministry said. 

The EU parliament members, including Lukas Mandl and Marc Jongen, appreciated Pakistan’s “constructive engagement, openness in discussion, and the government’s focus on reforms and human capital development,” the commerce ministry said. 

“They acknowledged Pakistan’s potential and reiterated that dialogue, transparency, and partnership would continue to guide the EU–Pakistan relationship,” the ministry added. 

Islamabad considers the EU a vital trading partner. Pakistan has become the largest beneficiary of the GSP+ trade scheme in recent years, with its businesses increasing their exports to the EU market by 108 percent since the trade scheme was launched in 2014.

ISLAMABAD: Prime Minister Shehbaz Sharif will lead a high-level delegation to ����ֱ�� when he travels to the Kingdom today, Monday, to participate in the Future Investment Initiative (FII) summit, the foreign office said amid Islamabad’s drive to seek international trade and investment cooperation. 

The FII was launched by ����ֱ��’s Public Investment Fund in 2017 under its Vision 2030 program. The forum brings together global leaders, investors and innovators to explore investment opportunities and advance technologies such as artificial intelligence, robotics and green finance.

This year’s summit will focus on the theme: ‘The Key to Prosperity: Unlocking New Frontiers of Growth’ to address global challenges and opportunities, focusing on key topics such as innovation, sustainability, economic inclusion and geopolitical shifts.

“At the invitation of His Royal Highness Crown Prince and Prime Minister Mohammed bin Salman, Prime Minister Muhammad Shehbaz Sharif will lead a high-level delegation, including Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar, as well as senior Cabinet Ministers — to Riyadh from 27 to 29 October 2025 to participate in the Ninth Edition of the Future Investment Initiative (FII9),” the Ministry of Foreign Affairs (MoFA) said in a statement on Sunday. 

The foreign office said Sharif will also engage with the Saudi leadership in his bid to explore avenues for enhanced cooperation in trade, investment, energy and human resource sectors. It said discussions between the two sides will also cover regional and global issues of mutual concern.

“On the sidelines of FII9, the Prime Minister will also interact with leaders from other participating countries and heads of international organizations,” the statement said. “These exchanges will highlight Pakistan’s investment potential and its readiness to pursue collaborations in sustainable development, in line with the ‘Think, Exchange, and Act’ model.”

Pakistan and ����ֱ�� have long enjoyed close ties but have sought to broaden cooperation in recent years, including a defense pact signed in Riyadh during the prime minister’s visit on Sept. 18 and 34 memorandums of understanding worth $2.8 billion across multiple sectors last year.

The landmark defense pact that formalized their decades-old security ties. As per the agreement, an attack on one country will be considered an attack against both.

The two nations share longstanding ties rooted in faith, mutual respect and strategic cooperation, with Riyadh remaining a key political and economic partner of Islamabad.

The Kingdom also hosts over 2.5 million Pakistani expatriates, the largest source of remittances for Pakistan’s $407 billion economy.