The textile sector of Pakistan would soon start benefiting as the autonomous trade preferences (ATPs) granted by the EU would be implemented within a month’s time, German Ambassador to Pakistan, Dr. Cyrill Nunn, said while speaking at the Lahore Chamber of Commerce and Industry (LCCI).
As the ATPs granted by the EU on September 13, 2012 are implemented, it would allow duty-free export of around 75 Pakistani products, mainly textiles and clothing, to the EU markets till December 31, 2013.
The ambassador also said that Pakistan is ready to win EU’s Generalized System of Preferences (GSP) Plus status by early next year. Winning this status would open up the way for duty-free exports to the EU markets, mainly benefiting the textile enterprises of Pakistan, he added.
He stated that majority of Pakistan’s population is young, which makes the country a lucrative market for consumer products.
He said there is ample scope for cooperation and intensifying trade ties between Pakistan and Germany and added that the German Government has articulated its readiness to extend all support to entrepreneurs who are willing to invest in Pakistan.
He said a German trade delegation would visit Pakistan in November this year to assess trade opportunities in the country.
Further, Dr. Nunn noted that the German enterprises are eagerly eyeing trade normalisation between India and Pakistan, as some of these firms look forward to set up their base in Pakistan to facilitate exports to India. The ambassador said that easing of trade-relations with India would be much in favour of Pakistan itself.
LCCI President Irfan Qaiser Sheikh said with its strategic location and ample availability of raw materials, Pakistan is an apt location for overseas investors. He also urged the German investors to embark on alternative power projects in Pakistan to ensure continuous availability of power, especially for the country’s textile industry.
Source:
http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=116355
