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Pakistan textile exports to EU may jump 30%
27
Sep '12
Pakistani textile exports to the EU are likely to rise by 30 percent, due to the EU granting duty-free access to 75 Pakistani items, mostly textiles and apparels.
 
Optimum utilization of the existing capacity could boost textile and apparel exports by 30-40 percent or by about US$ 700 million to US$ 1 billion, Pakistan Textile Exporters Association (PTEA) Chairman Rana Arif Tauseef said, while speaking to the media.
 
Under the existing tax regime, export of 75 items, for which concession is granted, to the EU value at around US$ 1.4 billion, accounting for nearly 27 percent of Pakistan’s overall exports worth US$ 5.1 billion to the EU. Hence, there is good scope for escalating exports of these items under the duty-free regime, the PTEA Chief said.
 
He said the concession would help Pakistani textile industry to enhance its efficiency and competitiveness, while creating opportunities for employment generation, skills development and exchange of technological expertise.
 
However, continuous supply of utility services like gas and power to production units across the year would play a major part in ensuring this, he added.
 
Lastly, Mr. Rana urged the Government to prepare grounds for earning Generalised System of Preferences (GSP) Plus status from the EU.
 

Fibre2fashion News Desk - India

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