Home / Knowledge / News / Textiles / EU GSP+ can boost Pakistan's textile trade: PTEA
EU GSP+ can boost Pakistan's textile trade: PTEA
01
Nov '13
Pakistan’s textile industry has the potential to double its share in the global textiles trade from the existing 1.5 percent by reaping the benefits of the European Union’s (EU) Generalized System of Preference Plus (GSP+) status.
 
According to the Pakistan Textile Exporters Association (PTEA), the textile exporters of the country have pinned high hopes for a significant surge in textile exports after getting duty free access to countries in the EU following the GSP+ status, reports the Express Tribune.
 
Sheikh Ilyas Mahmood, chairman of PTEA, said the textile industry of Pakistan is expecting to finally get duty free access to EU in January next year and is planning to boost textile exports at least by 100 percent in the next 4 years through value addition.
 
Pakistan currently exports US$ 2.7 billion worth of yarn and US$ 2.5 billion worth of plain and dyed fabric annually to Bangladesh and other countries, which are benefiting by adding value to the raw material imported from the country and exporting finished goods to EU, he added.
 
The PTEA chairman said Pakistan’s textile exports stood at US$ 13.06 billion in the previous fiscal year, and is continuously rising since last five years despite the worst energy crisis scenario faced by the sector.
 
In the next four years, the textile sector of the country will use its whole capacity to achieve the export target of US$ 26 billion as the country is expecting GSP+ status in January and free access to the EU would help to achieve this goal, he added.
 
PTEA vice chairman Adil Tahir was of the view that EU is not only Pakistan's largest export destination and trading partner but it is also engaged with Pakistan in multiple levels of social and economic development activities.
 
The PTEA vice chairman urged Pakistani Government to complete its groundwork for attaining the GSP+ status so that the textile industry can get full benefit from it.
 

Fibre2fashion News Desk - India


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Mike Hoffman
Gildan Activewear SRL

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

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search