The European Union and Mercosur states – Argentina, Brazil Paraguay and Uruguay, have reached a conclusion of negotiations for a comprehensive and ambitious Free Trade Agreement at the end of last month.
The EU is the most important market for Turkey’s clothing exports but currently Turkish ready-to-wear exporters are under pressure from their competitors in the EU market, such as Pakistan and Bangladesh. According to Hadi Karasu, the new President of Turkey Clothing Manufacturers' Association (TGSD), iIf no measures are taken, their power can be lost in the near future.
Turkey has all the values needed to become a leader in apparel n the world. Out goal is to translate this power into gains that would boost their country’s economy and industry.
Arvind Limited, textile major intends to become a strategic partner with its customers by focusing on a multipronged strategy for its growth. Their strategy will be built on four planks — sustainability, innovation, verticalisation and multi-fibre, company’s Chairman and Managing Director Sanjay Lalbhai said in an interview.
South Korea and Ethiopia are expected to observe the signing of some 40 memorandums of understanding (MOUs) that could further boost their political and economic ties as their leaders President Park Geun-hye and Ethiopian Prime Minister Hailemariam Desalegn prepare to hold talks.
At the talks, the two leaders are expected to discuss a wide-range of issues, including trade, investment and development cooperation , a senior South Korean official said.
Philippines enjoys duty free export privileges for almost 99 percent of goods traded across member countries of ASEAN Economic Community apart from this it is also a beneficiary of preferential trade schemes of the US and EU under their respective General Systems of Preferences (GSP) and GSP+ trade schemes. Japanese manufacturers are enticed to establish operations in the Philippines to take advantage of the country’ s preferential trade agreements with ASEAN, the European Union (EU), and the United States (US), said Department of Trade and Industry (DTI) Secretary Adrian S. Cristobal Jr.
EU Trade Commissioner Cecilia Malmstrom announced the launch of the negotiations for a free trade agreement during a visit to Tunis and talks with Tunisian Trade Minister Ridha Lahouel and Prime Minister Habib Essid. The aim of the agreement is to improve market access opportunities and the investment climate and support ongoing economic reforms in Tunisia, it said on its website.
Textiles and textile articles originating from specific countries like China, EU, Serbia, Poland and Denmark are exempted from testing of samples for presence of Azo Dyes, according to notification from Director General of Foreign Trade, India. Azo Dye is mainly used for colouring fabric. Use of this dye in textiles and textile articles are banned in these countries.
The Philippines already enjoyed benefits from the European Union's GSP, wherein 2,442 products out of 6,209 are subject to zero duty while the rest have lower tariffs. But with the European Parliament completing the process to grant the Philippines request for inclusion in the European Union’s (EU) General System of Preferences Plus (GSP+). The Philippines can now export 6,200 tariff lines, including textiles
A joint seminar was organised by the Rawalpindi Chamber of Commerce and Industry (RCCI) and Pakistan Institute of Trade and Development (PITAD) at RCCI on Friday to create awareness on capitalizing the benefits of GSP Plus given by EU.
Pakistan is facing a challenge to turn the GSP Plus conditions into an opportunity as textile companies although best but unaware of how to avail the duties and tax concession under GSP Plus given by the European Union to Pakistan.
To put this is place Trade Development Authority of Pakistan (TDAP), along with a foreign consultant, has shortlisted seventeen textile companies to guide them about availing the maximum benefits from the generalised scheme of preferences (GSP) plus status.
