Pakistan, April 27 -- Pakistan's exports to major Western and Northern European markets have recorded negative growth in the first nine months of the current fiscal year compared with a year ago, despite the continuation of the Generalised Scheme of Preferences (GSP+) status, raising concerns about weakening demand for Pakistani goods.

The development comes against the backdrop of a shifting global trade environment, as the US-Iran conflict sends shockwaves through the Middle East, impacting global goods transport, accelerating the fall in exports to European markets. Additionally, earlier this year, European Union preferential market access was offered to India, one of Pakistan's key competitors in textiles.

Earlier this month, the EU ...