Pakistan intends to ask for the substitution of 15 textile products in the list of items approved by the European Union (EU) for zero percent tariff concession on import from its territory in the Friends of Democratic Pakistan (FoDP) conference to be organized at Brussels today.
The country also has reservations on the zero percent tariff concession on yarn and fabrics qualified by EU. Yarn and fabrics are the two major inputs used in the domestic textile industry. If EU imports yarn and fabrics on zero percent tariffs, it would raise their prices in the domestic market and cause more challenges for the domestic textile sector.
According to a spokesperson, the number of products would remain at 75 only but Pakistan would request the EU authorities to substitute 15 products in the list with low value added products. The 15 products which have been proposed are high value added products and if the EU approves their replacement then Pakistan will leverage the benefit arising out of the EU tariff concession announced for the coming three years, 2011-13.
He further explained that EU has permitted zero percent tariff concession on 75 products from Pakistan, which comprises of 64 textile products and 11 other products such as ethanol, agricultural products, leather, etc.
Fibre2fashion News Desk-India
20240830145952.gif)
20240924091343.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
