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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: Bosnia, cloth sheets, Europe and US, jeans, label and export, no export tax, no quota for export, Pakistani entrepreneurs, Pakistani textile, pillows, post war country, set up unit in Bosnia, sports, towels

Bosnia considered a post-war country does not have any quotas for its export of finished products which can be exported to Europe and the US. Also, Bosnia need not pay an export tax on its products or it is very minimal. Pakistani entrepreneurs have great opportunity to set up their unit in Bosnia, label and export it to rest of Europe without facing any quota bars on the produce.

Related Keywords: home textile manufacturer, looms, lower dependence, outside suppliers, producing bed-sheets, spindles, towels, Welspun Group, Welspun India

Welspun India, a part of the USD 3 billion Welspun Group, one of the top three home textile manufacturers in the world and the largest home textile company in Asia. With the 170,000 spindles and 140 looms part of the plan producing bed-sheets, towels and other made-ups have started commercial operations effective September, 2014.

The company's expansion project is half-way through with capex of Rs 1,200 crore completed by the end of the quarter. The remaining capex of around Rs 1,300 crore is expected to be completed over the next two years.