Chairman All Pakistan Textile Mills Association expresses gratitude on getting generalized system of preferences status for Pakistan

Karachi, December 12, 2013 (PPI-OT): The Chairman All Pakistan Textile Mills Association (APTMA) Yasin Siddik has expressed his gratitude on getting GSP (generalized system of preferences) status by European Parliament terming it a big success for Pakistan and good omen for country’s export oriented industry.

Yasin said that EU Parliament has approved GSP Plus status for Pakistan with 406 parliamentarians expressed their support for Pakistan and the status has been granted till 2017. He said that the status will prove to be of great benefit to Pakistan’s textile manufacturers and exporters who will now have duty free access to 27 European countries.

He said that textile exports had been declining in Pakistan, as manufacturers and exporters were finding it hard to compete with Sri Lanka and Bangladesh who already had duty-free access to European markets and were getting 11.5 per cent tariff cut.

APTMA Chief has further stated that it was heartening to note that EU countries’ leaders have supported to accommodate Pakistan in the new GSP Plus initiative from January 2014 onwards. Pakistan is fortunate to be a preferred, strategic and largest economic partner of EU.

The EU’s Parliament granted approval of this facility by a majority vote. The facility will provide duty free access to 3,500 products. There was duty of 11.5 percent on Pakistani textiles, which has been abolished with effect from January 1, 2014. Pakistan can earn an additional 550-700 million dollars per year through GSP Plus status, he added.

He said that the decision by the EU was the endorsement of our demand that Pakistan needs more trade and not just aid.

The objectives of the EU’s new GSP are to focus on help to those truly in need, to strength GSP plus as an incentive, to good governance and sustainable development. Yasin expressed hope that the textile and garment units which are running under capacity will resume production at full capacity. He emphasised the need of making efforts to improve law and order so that foreign buyers should also start coming to Pakistan for export deals.

For more information, contact:
All Pakistan Textile Mills Association
APTMA House, 44-A,Lalazar,
Off: Moulvi Tamizuddin Khan Road,
Karachi -74000, Pakistan.
Phone: 0092-21-111-700-000
Fax: 0092-21-5611305
E.Mail: aptma@cyber.net.pk
Web Site: www.aptma.org.pk

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