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APTMA wants duty-free access to US for finished products
27
Jun '13
The All Pakistan Textile Mills Association (APTMA) has sought duty-free access to the US market for finished items.
 
If the duty-free facility is provided, Pakistan can increase its exports by US$ 10 billion through conversion of yarn and fabric into finished products, APTMA representatives said at Pakistan-US Investment Conference held in Dubai.
 
In a video presentation made at the conference, APTMA compared Pakistan’s exports with other competitors that have duty free market access to the US.
 
Pakistan exports yarn as well as grey and dyed fabric to those countries which have duty free access, as Pakistan’s finished goods attract 23 percent duty.
 
APTMA said once free market access is available to Pakistan, the country’s textile industry would speed up investment in Greenfield projects for utilizing domestically produced fibres, and ensure a win-win situation for everyone—cotton growers, employees and manufacturers.
 
Pakistan’s textile industry has deep forward and backward linkages that engage farmers, small-scale cottage industries and large-scale industries.
 
APTMA representatives said it is an opportune time for the country’s policymakers to provide uninterrupted electricity and gas supply so that the mills can optimally utilize their installed capacities and make new investment plans.
 
Addressing the two-day conference, Pakistan’s Finance Minister Ishaq Dar said the new PML-N Government has adopted an economic policy that assigns leading role to private sector in economic development.
 
The Minister said the Government is very keen to promote investment and it will facilitate investors by providing a stable policy framework and also by helping individual investors in quickly completing all regulatory formalities for setting up their businesses.
 

Fibre2fashion News Desk - India

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