Secretary Commerce Younus Dagha that the buyers and sourcing agents play an important role in enhancing exports of a country by acting as a bridge between manufacturers and foreign buyers. He added that the Ministry of Commerce has been in the process of formulation of strategic trade policy framework for the period 2018-23 and the objective of the symposium is to consult the buying and sourcing houses for the policy formulation.Secretary commerce said Pakistan recently improved social compliances, which were duly acknowledged by the European Union during the recent review under generalised scheme of preference plus.In, After witnessing slow growth during the past couple of years, outbound shipments recovered 12 percent to $15 billion in the first eight months of the current fiscal year of 2018 as exporters availed the governmentâ€™s incentives to boost exports
Secretary Commerce Younus Dagha said that as quoted by commerce divisionâ€™s statement,â€œThe latest international trends in products especially textile, leather and footwear are set by the sourcing agents as per demand of the foreign buyersâ€
The buyers said a national compliance centre may be set up which coordinates the improvement of compliances on cooperative model to improve social compliances by the manufacturers, which are growingly becoming an important critical determinant of sourcing decisions.
More than 60 percent of the countryâ€™s total annual exports account from textile exports resulting in the Government pinning much hope on it giving energy to the countryâ€™s exports.Two US companies Character World and Disney shifted buying orders to Bangladesh and other regional countries.Some foreign brands closed their buying operation in the country in the recent past
The worldâ€™s biggest clothes retailer and owner of an internationally known fashion brand Zara Spanish Inditex Group, opened its maiden branch office in Pakistan in February to double its imports of around one billion dollars from Pakistan. Commerce Division of commerce ministry and Trade Development Authority of Pakistan hosted the first buying and sourcing houses symposium which had a large number of representatives participating from foreign buying houses, including Marks and Spencer, H&M, Inditex and Ikea. The participants also proposed incentivisation of innovation for the manufacturers under the upcoming trade policy framework. The buying houses, sharing proposals to make Pakistan an attractive destination for sourcing by the international buyers, said the government may consider setting up sourcing parks to ensure all facilities through a one-window facility. They said in the past many buying houses relocated out of Pakistan due to security situation. They added that since the security situation has improved, the buying houses may be provided incentives in terms of subsidised office space to come back to Pakistan
Foreign textile buying houses on Wednesday advised the government to set up a central compliance centre in Pakistan to improve manufacturersâ€™ compliance with social standards an important determinant to clothing imports from the country.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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