Home / Knowledge / News / Textiles / WTO approves duty-free export of Pak textiles to EU
WTO approves duty-free export of Pak textiles to EU
02
Feb '12
The World Trade Organization's (WTO's) Council for Trade in Goods has approved a package that would allow duty-free export of 75 Pakistani items to the EU markets until the end of 2013.

The two-year tariff waiver will enter into force once it gets formal approval from the WTO General Council and subsequent completion of EU's internal procedures.

The EU package is aimed at supporting the south Asian country cope with economic losses suffered due to heavy floods in 2010.

It is expected to substantially boost Pakistan's textile exports, which constitute over 70 percent of around €3 billion (US$ 3.9 billion) worth of total Pakistani exports to EU nations.

Pakistan is the largest trading partner of EU and it accounts for nearly 30 percent of all EU imports.

The 75 items that are included in the waiver would approximately account for €900 million in terms of imports, that is, about 27 percent of all Pakistan's exports to EU countries.

The WTO has approved such exclusive trade terms for one of its members at the behest of EU, owing to exceptional circumstances faced by Pakistan in the aftermath of the devastating floods of 2010.

The WTO approval has materialized after nearly 18 months of discussions and it is expected to boost Pakistan's total exports by 15-20 percent.

Prior to WTO approval, several countries including India, Bangladesh, Indonesia, Brazil and Argentina had objected to the EU duty-free proposal for Pakistan.

The fears of these countries were allayed by applying tariff rate quotas instead of full waiver on 20 Pakistani products.

Click here to view the complete list of Pakistani products that qualify for exemption of customs duty upon importation into EU.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Wendell Rodricks
Wendell Rodricks

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search