Home / Knowledge / News / Textiles / EU's GSP plus status to Pak imminent
EU's GSP plus status to Pak imminent
13
Jan '12
The much-awaited granting of European Union's Generalized System of Preferences (GSP) plus status to Pakistan now looks imminent, which is likely to result in a significant US$ 200 million per annum increase in the Asian country's textile and garment exports.

In fact, EU has already started its internal process for activation of the package once the WTO gives its final approval to the waiver.

Most of the concerns earlier expressed by countries like India and Bangladesh regarding the EU package to EU have now been addressed and hence the waiver of duty on 75 Pakistani items for export to EU is likely to be approved at the next meeting of the Council for Trade in Goods.

This would be followed by an approval from the WTO Council, which would be meeting next on February 22, 2012 in Geneva.

Subsequently, the proposal would have to be approved by the European Council and the European Parliament. It would result in admission of Pakistan to EU's GSP Plus which would come into effect from January 1, 2014.

The implementation of the GSP Plus scheme would increase Pakistan's textile and garment exports by US$ 150-200 per year, according to experts.

The duty waiver on Pakistani export items to EU will be applicable up to average 20 percent export growth to the EU, and if exports rise beyond 20 percent, goods entering EU would have to pay the duty.

However, analysts say the rise in Pakistan's exports to EU after the coming into effect of the GSP Plus scheme is likely to remain within the 20 percent limit.

Fibre2fashion News Desk - India


Must ReadView All

Amazon debuts on Fortune 500 top 10 list

Apparel/Garments | On 28th May 2018

Amazon debuts on Fortune 500 top 10 list

American e-marketplace Amazon has cracked Fortune 500’s top 10 list...

Courtesy: Ralph Lauren

Fashion | On 28th May 2018

Ralph Lauren posts Q4FY18 revenue at $1.5 billion

Ralph Lauren, a global leader in the design, marketing, and...

Fashion industry employs 300 mn workers globally: Report

Apparel/Garments | On 28th May 2018

Fashion industry employs 300 mn workers globally: Report

The fashion industry employs over 300 million people across the value ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search