Islamabad: The delegation of the European Union (EU) to Pakistan on Wednesday (September 8) launched the EU-Pakistan Business Forum for Small and Medium Enterprises (SMEs), according to news sources.
The event was attended by representatives of local SMEs from different sectors including fashion-wear, travel and tourism, gems, information technology, and jewellery and mining. The business forum aims to provide collaboration opportunities for Pakistani and EU businesses that will help promote trade.
EU Ambassador to Pakistan Androulla Kaminara disclosed that the EU will provide EUR 10 million to Pakistan to promote local SMEs in four sectors, which includes information technology, jewellery and mining, handicrafts & fashion wearing, gems, and travel and tourism.
During the first session in Islamabad, the attendees were informed on how to benefit from the Generalised Scheme of Preferences Plus (GSP+). This scheme removes the practical and regulatory hurdles to do business for SMEs.
Pakistani economy has 3.3 million SMEs while Europe has 25 million SMEs. With the help of the business forum, the SMEs of the EU and Pakistan will be brought together to promote businesses, share technology, and enhance export orientation. According to EU Ambassador to Pakistan Androulla Kaminara stated that SMEs can greatly benefit from GSP+ concessions. She mentioned that she will help prepare Pakistan’s business sector and government to promote trade.
As per the details shared, similar meetings will be held in Karachi and Lahore later this year. The subsequent meetings will include other sectors as well such as auto-parts and agricultural manufacturers.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
