Pakistan’s garments exports boost to $7.98 billion

Aizbah KhanWeb Editor

09th Jan, 2020. 07:11 pm
Pakistan’s garments exports boost to $7.98 billion

Pakistan’s garments exports to European Union (EU) had increased from $6.87 billion in 2013 to $7.98 billion in 2018.

According to the details, the ministry of Commerce informed the National Assembly that the increase occurred a result of Generalized Scheme of Preferences (GSP+).

The ministry told that under GSP+ Pakistan had duty free access in the EU market for garments and apparel and Pakistan’s exports in garments and hosiery had increased by 92 percent.

The garment sector was one of the major sectors of the Pakistan’s exports basket and Ministry of Commerce had always undertaken several steps to get market access for the Pakistani garments in international markets through trade diplomacy and trade promotion.

The ministry further stated that in all bilateral arrangements under free and preferential trade agreements with other trading partners’ textile sector and garments figured prominently.

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Some of the recent steps taken by the ministry for access of the Pakistani garments in the international market were delineated below.

In order to boost garments exports to China, the government had taken various steps. There was early implementation of the Phase-II of China-Pakistan Free Trade Agreement (CPFTA) which had been signed during visit of prime minister to China April, 2019 and implemented from January 1, 2020.

In addition Pakistan will receive concession on 232 tariff lines under Preferential Trade Agreement (PTA) with Indonesia and Pakistan had also gained access to the unilateral market on 20 top priority tariff lines at zero duty of these 20 tariff lines.

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