Home / Knowledge / News / Textiles / Experts discuss opportunities through GSP Plus to Pakistan
Experts discuss opportunities through GSP Plus to Pakistan
31
Jan '14
Experts from various Government and private sectors of Pakistan discussed the opportunities that would come to Pakistan due to the Generalised System of Preferences Plus (GSP+) status conferred to it by the European Union, which came into effect this year, at a one-day conference on ‘GSP Plus: Opportunities Through Good Governance’, at Mariott Hotel in Karachi.
 
The GSP+ incentive has a major focus on principles of good governance and respect for labour rights, human rights and environmental rights. The conference brought together industry leaders, regulators, trade authorities, small and medium sized enterprises, and financial institutions to discuss what the GSP+ status entails and how it provides an opportunity to embed good governance for the long-term sustainable development of trade and commerce in Pakistan.
 
In his keynote address, M Yasin Siddik, chairman of All Pakistan Textile Mills Association (APTMA), said Pakistan was not provided with a level-playing field in global trade prior to the GSP Plus status, as most of its goods attracted 6-18 percent duty for entering the EU markets.
 
Mr. Siddik said Pakistan’s textile trade was only US$ 13 billion, which was less than 2 percent of the global textile trade of $725 billion.
 
He said the GSP+ facility necessitates Pakistan’s private sector to show high levels of compliance. He said the biggest problem was the energy crisis being faced by the manufacturing sector.
 
Speaking at the conference organized by the Pakistan Institute of Corporate Governance, Iqbal Ebrahim, CEO of Orient Textile Mills, said both the public and the private sectors should collectively take steps for complying good governance norms, as required under the GSP+ Scheme.
 
Mr. Ebrahim said Pakistan needs to take care of the 27 international conventions to succeed in the reassessment that the EU would do in 2017, otherwise it would lose important duty concessions.
 
The textile industry in Pakistan is expected to be one of the biggest beneficiaries of new duty concessions to the EU market.
 
In fiscal year 2012-13 that ended on June 30, Pakistan’s textile exports stood at $13.1 billion, registering a 53 percent share in the country’s total exports during the period.
 

Fibre2fashion News Desk - India

Must ReadView All

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Kevin Nelson
TissueGen

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

Marcel Alberts
Eurofibers

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

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

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:
May 2017

May 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