Home / Knowledge / News / Textiles / US-based textile product buyers likely to visit in September
US-based textile product buyers likely to visit in September
03
Aug '10
In order to lock market entry for textile goods in foreign countries, negotiations for bilateral agreements with EU and US are being speedily considered by the Pakistani Ministry of Commerce, as there is a ready market of their goods in these regions.

The aforesaid statement was made last week by Zafar Mahmood, Secretary, Ministry of Commerce, during his visit to the All Pakistan Textile Mills Association (APTMA), Karachi.

Mahmood informed the Commerce meeting that, representative of Buyers of Textile Products of United States was likely to visit Pakistan during September or October 2010. More so, Mahmood also said that, China was pondering over providing Pakistan with concession in exports and also give away concessionary arrangements to Pakistan if they partake in various expos that will take place in China.

Mahmood further added that, he firmly supported the Free Market Mechanism and advised not to levy any ban or restriction on a sub-sector of a value-chain as it was against the WTO agreement rules.

Shahzad Ahmed, Chairman, Aptma thanked the Mahmood for his attempts in helping Aptma attain the re-commencement of free market mechanism in textile trade and for allowing the regulatory duty on yarn exports to expire.

Ahmed further added that, although the industry has to purchase around 3.5 million bales, i.e. about 25 percent of their usage, they have never asked for any ban or restriction on cotton exports. More so, Aptma has time and again pointed out that, the spinning industry was in dire need of both its primary raw materials namely cotton and polyester.

However, numerous trade restrictions have been imposed on PSF, although use of synthetic fibre is merely 18 percent of Pakistan's raw material mix as against 60 percent existing across the globe.

Currently, there exists adverse tariff differences, wherein PSF blended yarn has zero percent import duty but the imports of PSA raw materials are subjected to a punitive regime of 6 percent import duty. Owing to shutting down of Dewan Salman Fibre, the disparity between Pakistani PSF and global PSF prices have blown up to a surprising figure of around 30 percent, further rendering exports uncompetitive.

An appeal was made to the government that is Pakistan was to attain an export target of $25 billion by 2014, all bans and tariffs on import of raw materials, which are available in limited quantities in Pakistan, should be removed. More so, PSF imports from India should also be allowed via entry points including Wahga and Khokhrapar.

Fibre2Fashion News Desk - India


Must ReadView All

US & EU retailers release industry approach to GDPR

Apparel/Garments | On 24th May 2018

US & EU retailers release industry approach to GDPR

The Washington, D.C.-based National Retail Federation and...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Marcel Alberts
Eurofibers

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sonam & Paras Modi
SVA

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search