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GSP Plus may help shift textile business from Vietnam to Pakistan
 
 
 
GSP Plus may help shift textile business from Vietnam to Pakistan

LAHORE - The Ambassador of Germany Dr Cyrill Nunn has said that an increase of 30 percent in textile export orders in Heimtextile to Pakistan is an encouraging sign so far as the GSP plus facility for Pakistan is concerned.
He was speaking to the APTMA members at the APTMA Punjab office. Chairman APTMA Punjab S M Tanveer welcomed him at the APTMA House.
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.
Accordingly, he said, the Pakistan government has revised it’s growth rate from 3.6% to 5.1% for 2013-14, which may be taken as first indicator of GSP plus facility. I’m sure that more developments will take place by the end of year, he added.
Dr Cyrill appreciated the proactive role played by the APTMA in achieving the GSP plus status for Pakistan. He said the GSP plus facility may shift textile business from Vietnam to Pakistan in the years ahead. According to him, the signs of growth can also be witnessed in other fields as well, covered under the GSP plus facility for Pakistan. However, still Pakistan’s dynamic textile industry will be that of engine of growth, he stressed.
The German Ambassador said more cooperation between Germany and Pakistan can be ensured by removing impediments in export credit guarantee, security situation, vocational training for skill enhancement, energy supplies and implementation of social compliances by Pakistan.
Earlier, in his welcome address, Chairman APTMA Punjab S M Tanveer said the 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, he added.
He said 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, he told the visiting envoy.
He also sought help of German Ambassador in attracting German brands like PUMA, ADIDAS, Marc O’Polo, HUGO Boss, and Tom Tailor towards Pakistan as their sourcing destination. He further sought help for the ventures under buying back arrangements of semi manufactured technical textiles with Germany.

 
 
on epaper page 9
 
 
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