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Related Keywords: both nations reluctant, cotton yarn, exportable products, Free Trade Agreement II, grey fabric, Pakistan and China, Pakistan major exports to China, revival of preferential tariff, specific concessions, trade concessions, trade deficit, woven fabric

In the seventh round of meeting held by Pakistan and China on trade concessions, after the stalemate of one year over reaching an agreement on the revival of preferential tariff on exportable products for each other, both the nations are reluctant to give specific concessions to each other in the Free Trade Agreement II.

Related Keywords: blended polyester, cotton, export of textile products, FBR, FOB value on export, Global textile market, notifed new DBK, Pakistan textile export, woven fabric, woven garment

Pakistan eyeing bigger share of global textile market, the Federal Board of Revenue (FBR) has notified new rates of duty drawback on export of textile and allied products. According to notification (SRO754 of 2014) issued on Tuesday, the new rates will be effective from Aug 21.

The FBR has also issued another notification to allow new rates of duty drawback to exporters retrospectively from Jan 1 as well.
In the current budget, the Pakistan government announced textile package to be effective from July 1 to provide relief for the textile exporters.

Related Keywords: Bangladesh RMG, BTMA, cotton yarn, export industry, knit fabric, local textile, Primary Textile Sector, raw material, specialized garment, woven fabric

Bangladesh readymade garment (RMG) manufacturers which dependent heavily on imported cotton yarn and woven fabric having gradually started using more such local raw materials for the export industry.
 
According to Textile Mills Association (BTMA), the country imported 236 million kilograms (kgs) of cotton yarn and 289 million kgs of woven fabrics in the last fiscal. The import figures were 240-million-kg yarn and 295-million-kg fabrics in the previous year.