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Duty on Pakistani textile products reduced by 50pc by the Australia

YarnsandFibers News Bureau 2015-09-01 17:00:00 – Lahore

Commerce Minister Engineer Khurram Dastgir Khan after a meeting with the Australian High Commissioner disclosed that Pakistan's textile, clothing and footwear will be the beneficiary of the reduction in the duty by the Australian Government. As the Australia has slashed duty on Pakistani products mainly textile products by 50 percent - from 10 percent to five percent - in response to concerted efforts of incumbent government especially the Commerce Ministry.

According to the Commerce Minister, duty has been slashed on 226 tariff lines of which only eight are non-textile items and remaining 218 are related to textile sector - 63 are home textile. Australia has slashed duty on items of Pakistan's interests and expertise.

Commerce Minister said that the Commerce Ministry would now chalk out a plan aimed at facilitating Pakistani textile sector entrepreneurs with Australian buyers. They are preparing their plans prior to the visit of Prime Minister Nawaz Sharif to Australia early next year.

Commerce Minister further stated that an Australian trade mission will visit Pakistan in October 2015 to review the current state of the bilateral trade relationship. Australia supports Commerce Ministry particularly through the World Bank on regional connectively issues especially Pakistan's relationship with Afghanistan and Central Asia.

The Commerce Minister further said that they have requested Australia to also include Iran in regional connectivity agenda to which they were quite positive.

Pakistan is exporting textile, leather, cotton etc. Presently, Pakistan is seeking Australian government''s co-operation in agriculture and to facilitate access of Pakistani dates and Kinnows to the Australian market.

Trade between Pakistan and Australia was roughly around $550 million in 2013-14 and trade balance is almost same for the two countries.

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