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APTMA unveils four-year plan to double textile exports
11
Sep '13
The All Pakistan Textile Mills Association (APTMA) has unveiled a four-year plan for Pakistan textile industry, and has set the target to double the export figure and reach US$ 26 billion from the current US$ 13 billion, by utilizing the European Union’s Generalized Scheme of Preferences plus (GSP+) status.
 
Addressing members of Lahore Economic Journalists Association, Mr. Amir Fayyaz, head of the International Trade Committee of APTMA, said in the next 4 years, Pakistan’s textile industry will use its whole capacity to achieve the export target of US$ 26 billion, as the country is expecting GSP plus status in January 2014, and the free access to EU markets would help in achieving the goal.
 
The textile sector is the backbone of Pakistan’s national economy in terms of revenue generation and job creation, and APTMA is struggling hard along with the Government to gain EU’s GSP plus status, he added.
 
Mr. Fayyaz also said that the first step towards attaining the GSP plus status has been concluded, as the European Commission’s technical team has given a positive evaluation on Pakistan’s application, and the next step is to market Pakistani textiles via international road shows, especially in the EU.
 
SM Tanvir, the newly appointed president of APTMA Punjab, said the textile exports globally stand at US$ 800 billion in which Pakistan’s share is only 1.5 percent.
 
After getting duty free access to EU markets following the GSP plus status, the country will be able to get a share of China’s trade, he added.
 
Mr. Tanvir said China’s share in global textile trade is US$ 300 billion from which it has lost US$ 30 billion due to increased cost of production. However, Pakistan was unable to benefit from this, whereas countries like Bangladesh, Vietnam, Cambodia and Sri Lanka captured the lost share as these countries enjoy zero-rated facilities on their exports, he added.
 
The APTMA Punjab president said there have been talks with China to set up units in Pakistan, and during the four-year APTMA plan period as many as 10 million new jobs will be created in textile sector which would help in reducing poverty as well as boost economic activates in the country.
 

Fibre2fashion News Desk - India

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