EU tariff concessions enhance export potential of textiles

Pakistan textiles would receive another US $4 billion this year due to the increase in the prices of domestically produced cotton. Another $1 billion will be added to its earnings as a result of the tariff concessions issued by the European Union (EU). This will take the total textile exports of Pakistan to $15 billion.

The APTMA Chairman, Gohar Ejaz stated that the cotton growers had received Rs 260 billion by selling 12.7 million bales of cotton, last year. This year, they are going to earn as much as Rs 400 billion from the sale of same amount of cotton. This hike in the earnings is due to the rise in international cotton prices.

Gohar further added that EU has low spinning potential. Pakistan exports yarns worth 62.7 million Euros to the region. Even an increase of 40 percent in the country’s yarn exports is not going to affect the availability of cotton yarn in the domestic market.

Original Source: EU tariff concessions enhance export potential of textiles @ Fibre2fashion