The implementation of European Union’s Autonomous Trade Preference (ATP) Scheme from November this year is expected to boost Pakistan’s textile exports to the EU countries.
Pakistan’ textile exports to the EU would rise by 31 percent from US$ 1.709 billion in 2011 to US$ 2.246 billion this year, owing to the coming into effect of the ATP, Mujeeb Ahmad Khan, Head of WTO Cell of Trade Development Authority of Pakistan (TDAP), said.
Under the ATP scheme, 75 Pakistani items, 64 of which are textile items, would gain duty-free access to the EU market. While 26 items have been covered under tariff-regulated quotas, 49 items have been placed under non-tariff regulated quotas, Mr. Khan said, while addressing a meeting of industrialists at the Faisalabad Chamber of Commerce and Industry (FCCI).
Mr. Khan informed that the European Commission would manage the quota, and Pakistani authorities would mainly be responsible for issuing the certificate of origin authenticating Pakistani origin of the exportable items, so that these items can avail duty-concessions.
He said that just one-fourth of annual quota allocated would be utilized for zero-tariff access during the next two months.
All stakeholders, including EU importers can access the quota utilization status any time on the website of EC Directorate General of Taxation and Custom Union.
The quota status would be considered as critical upon exhaustion of 90 percent of the quota, and the website would show an alert for that particular tariff line.
Source:
http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=117092
