Islamabad: The GSP plus facility which was introduced to boost Pakistani exports to the European Union (EU), seems to have paid dividends, as the country’s exports to Spain increased to $934.03m during the financial year 2016-17, according to a local newspaper report. Spain emerged as the third largest destination for Pakistani exports, recording a 5.43pc during FY 2016-17 increase from same period last year (SPLY). According to Pakistan’s commercial counselor to Spain, Dr. Muhammad Ali, the country’s exports to Spain will cross the $1b barrier soon and the balance of trade is stacked in Pakistan’s favor at an overall value of $656.71m for FY 2016-17.

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