Home / Knowledge / News / Textiles / ICCI hails restoration of US GSP Plus programme for Pak
ICCI hails restoration of US GSP Plus programme for Pak
25
Aug '15
The Islamabad Chamber of Commerce and Industry (ICCI) has hailed the restoration of GSP Plus programme by the US for Pakistan, describing it a highly positive development for the economy of Pakistan.

In a press release, it said the US decision would help in improving Pakistan's exports and reduce trade deficit. The US has renewed its GSP programme for Pakistan through Dec 31, 2017 effective retrospectively between Aug 1, 2013 and July 28, 2015.

Muzzamil Hussain Sabri, President, ICCI, said that the total volume of US procurement was around $1.7 trillion and restoration of GSP Plus has created a good opportunity for Pakistani exporters to get better penetration in the huge US market. He said after the grant of GSP Plus by the European Union, Pakistani exports to EU have increased by 21 per cent and added that the concession of duty-free access to US market have created fresh prospects for further boosting our exports.

He said under the GSP, Pakistan could export more than 3,500 items to the US market without paying any duties on them. However, he said most of textiles and leather products have not been included in this facility despite the fact that these are our main exports. He urged upon the government to try to convince US authorities for inclusion of textiles and leather products in GSP Plus facility so that Pakistan could realize maximum benefit from this concession.

Sabri pointed out that bilateral trade between the two countries was just $5.3 billion, which was far less than the actual potential. He said both countries should step up efforts for improving volume of two-way trade that will further strengthen mutually beneficial partnership between the two countries.

He said government should fully cooperate with private sector in its efforts aimed at diversification of exports in order to get full benefit of GSP Plus program. He said government should also support exporters in capacity building so that they could compete more effectively in the international markets. He said government should ensure uninterrupted power and gas supply to industries to reap full benefits of GSP Plus concession. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

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

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

October 2017

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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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