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US may allow duty-free access to Pakistani textiles

21
Jul '10
During its recent visit to Pakistan, US delegation made an announcement to the Government of Pakistan that a ruling with respect to removing tariff on textiles is under consideration and that it would help Pakistan's textile segment to export its goods to US market without paying any duties.

The delegation explained that, the legislation on eliminating the 16 percent tariff on Pakistani textiles was already discussed in the Senate's standing committee on foreign affairs.

During the committee meets, US senators, discussed with the members of US trade organizations to completely eradicate duty on Pakistani textiles. Further more, senior US officials have decided to work further towards offering greater market access to Pakistani textile goods in US and hence, advance two-way trade and economic ties.

A senior official of the Pakistani textile ministry informed that, by permitting wider access in to the US and European markets, by virtue of eliminating tariffs, will most probably help in raising the Pakistani exports from $8 to $10 billion. This thereby, indicates that, Pakistan's overall exports of textile have the potential to increase from $10.6 to $20.6 billion by 2015.

While Pakistan is paying around 16-20 percent duty on exports of value-added goods to US markets, it is paying 13 percent to the European market. But if the Pakistani textile products are given duty-free access in to these markets, similar to India, Bangladesh and China, then the country's textile exports can possibly brow to $10 billion.

Fibre2Fashion News Desk - India


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