Home / Knowledge / News / Textiles / 'Opt for value-addition to get full benefit from GSP+'
'Opt for value-addition to get full benefit from GSP+'
29
Jan '14
Pakistan’s industrialists and investors should opt for value-addition to get maximum benefit of the Generalised System of Preferences Plus (GSP+) status given to the country by the EU, Textile and Commerce Minister Khurram Dastgir Khan has said, reports APP.
 
The Minister was addressing a gathering of industrialists and entrepreneurs at Multan Chamber of Commerce and Industry. He said Pakistan’s exports are immediately expected to increase by US$ 1 billion per annum due to the GSP+ status, but to earn more Pakistan would have to opt for value addition in all sectors, especially the textiles sector.
 
He said there is relatively lower consumption of energy in value-addition, which creates employment opportunities for a greater number of people, especially women. Value-added products fetch premium price from export market and it takes comparatively less time to set up a unit for production of value-added items, he added.
 
He expressed hope that most of the problems confronting Pakistan would be resolved to a greater extent by June 2015, but the ongoing and the next fiscal year would be difficult.
 
He mentioned that the trade related talks with neighbouring India are now focused on ‘Non discriminatory market access on reciprocal basis’, instead of the earlier focus on Most Favoured Nation (MFN) status.
 
He said the Government is determined to address the power and energy issue and is in talks with India for linking power grids of the two countries. Talks on Pakistan-Iran gas pipeline project are also in progress, he informed.
 
As per Annex-IX of the EU Regulation-978, the entire textiles and clothing products from Pakistan, i.e. HS chapter 50 to 63 are included in GSP+ Scheme and have earned duty free access to the 28-member EU from January 1, 2014.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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