+917718880355

news

Pakistan gets Germany support in GSP plus status

YarnsandFibers News Bureau 2014-02-28 10:50:00 – Lahore

Pakistan gets backing from Germany in the GSP plus status. The German Ambassador, Dr Cyrill Nunn said that more cooperation between Germany and Pakistan can be ensured by removing hurdles in export credit guarantee, security situation, vocational training for skill development, energy supplies and implementation of social compliances by Pakistan.

The 30 percent increase in textile export orders in Heimtextile to Pakistan is an encouraging sign so far as the GSP plus facility for Pakistan is concerned.

Speaking to the APTMA members at the APTMA Punjab office, the visiting envoy said an increase in textile orders to Pakistan suggest that the European buyers want to take advantage of the GSP plus facility to Pakistan. The Pakistan government has revised its growth rate from 3.6% to 5.1% for 2013-14, this is first indicator of GSP plus facility and more developments will take place by the end of year.

Dr Cyrill also appreciated the proactive role played by the APTMA in achieving the GSP plus status for Pakistan. He is of the view that the GSP plus facility may shift textile business from Vietnam to Pakistan in the years ahead. Moreover, the signs of growth can also be witnessed in other fields as well, covered under the GSP plus facility for Pakistan. He stressed that Pakistan’s strong textile industry will be that of engine of growth.

Chairman APTMA Punjab S M Tanveer sought help of German Ambassador for the ventures under buying back arrangements of semi manufactured technical textiles with Germany.

According to Tanveer, APTMA’s vision is to increase Pakistan’s Textile Exports from US $13 Billion to US $ 26 Billion per annum in the next five years. It is estimated that an amount of US $ 5 billion would be invested in Weaving and Processing Textile projects in the proposed Textile Integrated Parks.

0 0 vote
Article Rating
0 Comments
Inline Feedbacks
View all comments

Market Intelligence

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!

WeCreativez WhatsApp Support
Our support team is here to answer your questions via WhatsApp. Ask us anything!
? Hello