Home / Knowledge / News / Textiles / Pakistan moves a step closer to get EU GSP Plus status
Pakistan moves a step closer to get EU GSP Plus status
07
Nov '13
Pakistan has moved a step closer towards achieving the European Union’s Generalised Scheme of Preferences (GSP) Plus status, as the EU Parliament’s International Trade Committee has voted 17-12 in favour of Pakistan’s inclusion in the scheme for duty-free access to European markets, according to Pakistani media reports.
 
The GSP Plus package of trade concessions, to be effective from January 1, 2014, needs to be formally approved by the European Parliament, before it is implemented.
 
Under the GSP Plus scheme, EU would eliminate or reduce import duties on several Pakistani products, including textile and clothing products, which would greatly help the country to boost its exports.
 
The scheme is expected to give a major boost to Pakistan’s exports to Europe, especially the textile and apparel exports.
 
At present, Pakistan’s textile exports to the EU markets attract 11 percent duty, which makes it difficult to compete with other countries like Bangladesh, which enjoy tariff benefit for exports to the EU.
 
The All Pakistan Textile Mills Association (APTMA) expects the GSP Plus status to double the country’s textile exports to US$ 26 billion from the current US$ 13 billion over a four-year period.
 
In fiscal year 2012-13, the EU accounted for about 25-30 percent of all textile and garment exports from Pakistan.
 
Welcoming the EU Parliament’s International Trade Committee’s decision, the Pakistan Textile Exporters Association (PTEA) said the duty waiver would boost the country’s textile exports to the EU by 30 percent.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

Courtesy: Delta Galil

Apparel/Garments | On 23rd Feb 2018

Delta Galil 2017 sales up 16% to $1,368.1 million

Delta Galil sales for full year 2017 increased 16 per cent to...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Eamonn Tighe
Nature Works LLC

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

February 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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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