Home / Knowledge / News / Textiles / Revised Rules of Origin to augment textile exports
Revised Rules of Origin to augment textile exports
28
Dec '10
On November 18, the European Commission (EC) had revised the Rules of Origin (RoO) for those commodities which are imported under its generalized system of preferences (GSP).The new rule is likely to be effective from January 1, next year.

This revised rule is expected to enhance the textile exports from Nepal. The new RoO has special provisions for Least Developed Countries (LDCs) and Nepal can take advantage of these provisions, particularly the zero-duty facility.

Again, if the new RoO is judiciously followed then it is expected to generate a favorable atmosphere where textile factories can grow as well as function smoothly. It will also provide more employment opportunities.

The ongoing RoO is much more complicated against the revised one as the new RoO makes the rules and regulations much flexible, particularly for the least developed economies which want to take advantage of the preferential trade arrangements of European Union.

As per the ongoing RoO, countries like Nepal, Laos and Cambodia have derogation but these countries are bound to purchase raw materials from SAARC, ASEAN and several African nations. But the revised rule is simpler as it has no such provision which compels these nations to import raw materials from certain specific regions only.

Now, the major challenge for the country is that it has to compete with several other least developed economies, although it would be free to decide from where the raw materials should be imported. The production cost is likely to decline considerably if the raw materials are imported from China as well as Taiwan.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

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

Marcel Alberts
Eurofibers

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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