News Tags

Related Keywords: Commerce Minister, European Union, Garments, GSP Plus status, home textile, Khurram Dastagir, Pakistan export, Pakistan textile exports, preferential tariff, towels

Pakistan’s exports to the European Union during the first 10 months (Jan-Oct) of 2014 advanced by 20 percent to $6.38 billion compared to the same period last year’s $5.3 billion was disclosed by Commerce Minister Khurram Dastagir during a seminar.

Dastagir said that the preferential tariff scheme boosted export of textile, leather goods, footwear and plastic products.

Pakistan’s textile exports to the EU increased from to $4.4bn from $3.6bn. The exports of garments grew by 28percent, home textiles by 30percent and towels by 23percent.

Related Keywords: bilateral trade, Chenab processing unit, Faisalabad Expo, FCCi, GSP Plus status, invest in Pakistan, local business community, Pakistan, Textile production, to boost trade, to play dynamic role, touch Pound 3 billion, United Kingdom

United Kingdom High Commissioner Philip Barton addressing the business community at Faisalabad Chamber of Commerce and Industry (FCCI) in Faisalabad on Monday emphasized that the local business community need to play dynamic role to augment Pak-UK bilateral trade to 3 billion pounds by end of 2015.

Mr Barton said that more than 100 British companies were already working in Pakistan, adding that he would strive to convince others to come and invest in Pakistan.

He also expressed satisfaction over the increase in Pakistani exports to European Union after the grant of GSP Plus status.

Related Keywords: Apparel Park of Pakistan, facilities to textile and garment sector, GSP Plus status, investors and industrialists, modern project, Punjab Industrial Estate Development and Management Company, Quaid-e-Azam, under one roof

Quaid-e-Azam Apparel Park of Pakistan, which will be the most modern project of its kind in South Asia, is being set up near motorway and will provide all necessary facilities to textile and garments sector under one-roof.

Punjab Chief Minister Shahbaz Sharif has called to review the progress on the project on Sunday. He said that the project would generate thousands of job opportunities and increase exports, leading to strengthening of national economy. The best facilities would be made available to investors and industrialists in this park.

Related Keywords: Buyers Meeting, collaborate, economic growth, employment, global buyers, GSP Plus status, IFC, ILO, improving productivity, international bodies, Netherland, Pakistan textile industry, practice in textile industry, technical assistance, uphold international standard

Pakistan understanding the importance of garment and textile industry to its economic growth, and the employment it create for its people which reduces poverty for millions of workers. Pakistan and the Netherlands along with other international bodies have collaborated to uphold international standards and practices in textile and garment industry.

In this regard, the first buyers’ meeting was held in Pakistan on December 15-16 with the support of the International Labour Organisation (ILO) and the International Finance Corporation (IFC).

Related Keywords: China Free Trade Agreement, clothing and textiles, export to EU, GSP Plus status, home textile sector, Pakistan textile export, Pakistan textile industry

Pakistan textile remained the major beneficiary of the Generalized Scheme of Preferences (GSP) Plus arrangement. During January-April 2014, Pakistan textile exports to the EU increased to $1.74 billion from $1.44 billion during the same period in 2013.

Related Keywords: decline of 1.54 percent, financial year, GSP Plus status, Pakistan textile exports, power crisis, provide gas supply, textile made goods

Pakistan has exported textile made goods worth of $4.6 billion during four months (July-October) of the financial year 2014-2015 as against $4.7 billion of the corresponding period of the previous year registering decline of 1.54 percent due to the ongoing power crisis faced by the textile sector despite receiving GSP plus status from the European Union

Related Keywords: EU, explore business, foreign consultant, foreigPakistan textile firms, GSP Plus status, innovations, invest in product development, n consultant, Pakistan textile firms, shortlisted seventeen textile firms, TDAP, training in exporting skills, training programme

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.

Related Keywords: European countries, GSP Plus status, Pakistan export, textile export, textile intermediary, trade preference

Pakistan witnessed export growth of $333.18 million (15.76 percent) to 28-member European countries- European Union (EU) under the autonomous trade preferences on 75 products in the first four months from January to April 2014. The sector wise break up of exports revealed textile remained the major beneficiary of the GSP plus arrangement.

Related Keywords: 5.3 percent rise, bedwear, cotton cloth, European Union, GSP Plus status, Knitwear, Pakistan Bureau of Statistics, Pakistan textile export, raw cotton, readymade garment

The GSP Plus status granted to Pakistan by the European Union (EU) has boost textile export, a rise of 5.3 percent reaching the figure to $13.74 billion during last fiscal year (July 2013 to June 2014), as compared to $13.05 billion of the preceding year (July 2012 to June 2013), according to the Pakistan Bureau of Statistics (PBS) latest figures released on Wednesday.
 

Related Keywords: EU countries, GSP Plus status, knitted garment, Pakistan textile industry, value added export, woven garment, yarn export

Pakistan although granted with GSP Plus status has shown less increase in exports than non-GSP Plus India is not a good portent for Pakistan. India having graduated out of even GSP status that provides some relief in duties than the normal EU tariff as yet show remarkable growth in value-added exports to the EU in the first three months of 2014, said Pakistani experts concerned over Indian growth in textile exports to EU.