Pakistan’s garments exports increase by 92%

Pakistan’s garments exports increase by 92%. The Ministry of Commerce informed the National Assembly on Thursday that Pakistan’s clothing exports to the European Union (EU) rose from $6.87 billion in 2013 to $7.98 billion in 2018 as a result of the Generalized System of Preferences (GSP+).

In a National Assembly written, the ministry said Pakistan had duty-free access on the EU market for clothing and apparel under GSP+, and Pakistan’s exports in clothing and hosiery had increased by 92%.

Pakistan's garments exports increase by 92%

It said the garment sector was one of Pakistan’s major export basket sectors, and the Ministry of Commerce had always taken several measures to gain market access for Pakistani garments through economic diplomacy and trade promotion on international markets.

The ministry said prominently figured in all the bilateral arrangements under free and fair trade agreements with other textile sector trading partners and garments. Some of the recent steps the Ministry has taken on the international market to enter Pakistani garments have been listed below.

The government had taken various steps to raise exports of garments to China. Phase II of the China-Pakistan Free Trade Agreement (CPFTA) was early implemented, which was signed during the Prime Minister’s visit to China in April 2019 and effective as of January 1, 2020.

Phase II gave favorable concessions to Pakistan, including the immediate removal of tariffs on 313 tariff lines of Pakistan’s top exports, which included 91 tariff lines of apparel.

In an effort to persuade textile products from Pakistan to China, the ministry led a delegation of 35 leading textile and leather companies to take part in the Li & Fung Vendor Summit held in Shanghai from 15-19 June.

The event helped to establish B2B linkages with their Chinese counterparts for Pakistani companies. After China’s National Apparel and Apparel Council (CNTAC), a major Chinese apparel and clothing group showed a strong interest in joint ventures.

Pakistan participated in the 1st China International Import Exhibition (CIIE) held in Shanghai in November 2018 to showcase Pakistani goods on the Chinese market, attended by a large number of Pakistani companies including the garment industry.

In addition to receiving a concession under the Preferential Trade Agreement (PTA) with Indonesia on 232 tariff lines, Pakistan had also received exclusive market access on 20 top priority tariff lines at zero duty of these 20 tariff lines.

These 20 tariff lines made up $4 billion of global exports from Pakistan and cover over $600 million of global imports from Indonesia. In March 2019, reductions on those tariff lines had come into effect.

The ministry led the business delegation of leading textile and leather firms to South Korea to raise exports of garments to South Korea and organized a trade and investment conference in Seoul in August 2019.

The conference helped Pakistani companies establish ties with their counterparts in South Korea.

TEXPO, 2019, the largest government-level exhibition specific to the textile sector, was recently held in Lahore attended by delegates from over 50 countries.

Heimtextil, Frankfurt and Heimtextil Moscow were the major textile exhibitions in which Pakistan participated, and was also planned for years to come. Not only did this help our business but it also paved the way for future endeavors.

Gatex Pakistan was an international exhibition especially dedicated to clothing, textile machinery, and accessories. The theme show was scheduled for March 11-14, 2020 at Lahore Expo Centre. News report on Pakistan’s garments exports increase by 92%

Source: Newsagency