Home / Knowledge / News / Textiles / Turkey to match EU concessions
Turkey to match EU concessions
11
Mar '11
In a significant development, Turkey has offered Pakistan, trade concessions at par with the European Union (EU) offer on the condition of approval by World Trade Organization (WTO).

The EU offered 20 percent relief in import duty on 75 items from Pakistan in October and Turkey is ready to trade with Pakistan at same concessions. The aim of the EU package is to help Pakistan in the aftermath of the devastating floods in August last year.

President of Karachi Chamber of Commerce & Industry, Saeed Shafiq told that as soon as the EU trade package was approved, Turkey would offer a similar package to Pakistan. Saeed Shafiq made this announcement at a press conference.

He said that the Director General of Foreign Trade of Turkey had informed him about their intentions to offer similar concessions. Shafiq told that Turkey was keen to pull Pakistan out of the economic crisis, which deepened after the worst floods in August last year.

Though EU package would help Pakistan earn an additional income of 100 million euros per year, it had invited severe criticism from the local textile manufacturers as around 90 percent items in this package consist of raw materials for textile sector.

In addition to that, India and other regional competitors opposed the pact strongly at the WTO meeting. Originally Pakistan was supposed to start availing this package from January, 2011 for a period of three years but because of opposition from surrounding countries at WTO, the pact was put on hold. However, Pakistan hopes to get the approval in this month.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

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

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Madhu Jain
Madhu Jain

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

Sonam & Paras Modi
SVA

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

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search