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Home textile gets 5pc extension in DBK benefit

Related Keywords: bedsheets, boost entire supply chain, boost home textile segment, curtains, decorative cotton products, etc sector. relief for made ups exporters, extended five percent duty drawback benefit, government, made-ups, main markets, passing through a difficult phase, preferential tariff, products face duty disadvantage, the European Union, towels

Government to boost home textile segment has extended a five percent duty drawback benefit to the made-ups (including towels, bedsheets, curtains, decorative cotton products, etc) sector. This move has come as a big relief for made ups exporters passing through a difficult phase.

GSP plus status boosted Pakistan’s exports to EU from $5.3b to $6.38b in 2014

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.

Vietnamese made textile product may lose tariff advantage with RCEP coming in force

Related Keywords: Asean, competitive advantage, European Trade Policy and Investment Support Project, export-import duties, Japanese market, preferential tariff, RCEP agreement, trade barriers, Vietnames made textile product

Vietnamese-made textile products at present enjoy a preferential tariff in Japan due to ASEAN+1 (ASEAN plus Japan) and the Vietnam-Japan Economic Partnership Agreement as similar items from China are subject to 15-20% tariffs.

Preferential tariffs may no longer be a competitive advantage for Vietnamese goods over those from China in the Japanese and South Korean markets after the Regional Comprehensive Economic Partnership (RCEP) agreement is signed.

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