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Related Keywords: cotton yarn, delay in disbursement, downward trend, European Union, export of knitwear, export refund claims, exports declined, GSP, ICST, international market, Islamabad Chamber of Small Traders, largest foreign exchange earning sector, Pakistan textile exports, Preferential market access, raw cotton, shortage of electricity, textile owners

Pakistan’s textile exports, the largest foreign exchange earning sector is facing a downward trend by 12.11 percent in the current year. Exports have declined to $8363 billion this year. Although the country is reaping the benefits of GSP, it has shown bleak performance in the export sector over which the Islamabad Chamber of Small Traders (ICST) on Sunday expressed deep concern and terming it unacceptable.

Related Keywords: act as an incentive for producers, added products include leather handbags, cotton handbags, cotton totes, create linkages with US buyers, enter the US duty free, GSP, leather totes, moisture management fabrics handbags, new additional list of goods, Rwanda exporters, SMEs to increase production, take full advantage of new AGOA trade facility

With the announcement of the new additional list of goods that will enter the US duty free under the African Growth and Opportunity Act (AGOA) scheme, entrepreneurs have been urged to take full advantage to enhance Rwanda’s export volumes and revenue.

Francois Kanimba, the Minister for Trade and Industry, said that this development should act as an incentive for producers, particularly small-and-medium enterprises (SMEs) to increase production to benefit fully from the AGOA arrangement.

Related Keywords: a major expansion of trade preferences for country, backpacks, expands duty-free access to travel goods, fifteen factories produce travel goods, Garment Manufacturers Association of Cambodia, GSP, handbags and wallet, made in Cambodia, such as luggage, under the new US Generalized System of Preference, United States, US Embassy in Phnom Penh

The United States, under the new US Generalized System of Preference (GSP) expands duty-free access to travel goods such as luggage, backpacks, handbags and wallet made in Cambodia, a major expansion of trade preferences for the country, according to the US Embassy in Phnom Penh.

Now, Cambodia will be able to be shipped its travel goods to the US duty free.

Related Keywords: EU and GSP plus, EU and GSP+, European Union, garment industry representative, GSP, GSP plus, GSP plus for Sri Lanka, GSP+ for Sri Lanka, increase wages of garment workers

Sri Lanka is likely to regain the GSP plus trade concession from European Union for garments exports, government said, five years after the nation lost the trade concession over its failure to meet the criteria on human rights concerns.

Prime Minister Ranil Wickremesinghe gave assurance that Sri Lanka will regain the GSP plus trade concession from the European Union when he met local and foreign garment industry officials at Temple Trees yesterday. He said that no fresh conditions have been made. They have been working very closely with the EU.

Related Keywords: Asean, EU and US market, EU import-duty privileges, flat growth rate, garment export, GSP, Japan-Thailand Economic Partnership Agreement, Thai garment industry, Thai Garment Manufacturers Association, uncertain economic outlook

Due to the uncertain economic outlook in some major markets , and in the European Union and the United States in particular, Thai garment exports likely to see relatively flat growth in a range of zero to 5 percent next year against expansion of 2-3 percent this year, according to the industry.

Besides deflation in EU countries and concern over the pace of recovery in the US, the forecast also takes into account the loss of EU import-duty privileges for Thai garments early next year.

Related Keywords: eastern European market, GSP, Pakistan textile industry

To achieve the benefits of Generalised System of Preferences (GSP) Plus scheme, Textile Industry Division Federal Secretary Rukhsana Shah has advised value-added textiles sector to prepare itself for the Eastern European markets because of their strong growth potential.

Pakistan has received such tax incentives after a period of 10 years, providing the country enough time to prepare short and long-term strategies, she said, adding that this would help to increase the country’s textile exports to the European Union.

Related Keywords: GSP, Pakistan exporters, refund claims, textile sector

Pakistan textile exports in quantity and value terms have been unsuccessful in gaining momentum and have remained below the desired level. Moreover, huge amounts for its exporters stuck in refund regimes.

The Pakistan Textile Exporters Association (PTEA) has sought immediate intervention of the government for the release of huge amounts for its exporters stuck in refund regimes, demanding zero ratings on textile exports.