Pakistan removed from EU’s list of ‘High-Risk Third Countries’

The European Union (EU) has removed Pakistan from its list of ‘High-Risk Third Countries’ and now the country will not face ‘enhanced due diligence’ in trading with EU countries.
Welcoming the EU decision, Pakistan hopes it would ease the cost and time of legal and financial transactions by the country’s entities and individuals in the EU.
This development has been made after the EU’s Financial Action Task Force (FATF) last year removed Pakistan from its ‘Grey List’.
The EU said that Pakistan no longer has strategic deficiencies in its anti-money laundering and terror financing (AML/CFT) regimes that pose a significant threat to the EU financial system.