Pakistan’s exports in garments and hosiery increased by 92%

Pakistan’s exports to the European Union have increased up to $7.98 billion in 2018 as compared to $6.87 billion in 2013.

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  • Under the Generalized Scheme of Preferences, (GSP+) Pakistan had duty free access in the European Union market for garments.
  • As a result of (GSP+), garment and hosiery exports increased by 92%.
  • Several reforms and policies were introduced in the garment sector to get access to international markets.

hosiery

The Ministry of Commerce has told the National Assembly that garment exports of Pakistan to the European Union have increased up to $7.98 billion in 2018 as compared to $6.87 billion in 2013.

Generalized Scheme of Preferences

Under the Generalized Scheme of Preferences, (GSP+) Pakistan had duty free access in the European Union market for garments and apparel. As a result, the garment and hosiery exports increased by 92%.

The Ministry said, several reforms and policies were introduced in the garment sector to get access to international markets.

Steps to boost export

  • Early execution of the Phase-II of China-Pakistan Free Trade Agreement (CPFTA).
  • Phase II includes instant removal of the tariff on 313 tariff lines of Pakistan’s prime exports, which included 91 tariff lines of garments.
  • Participation of Pakistan in the first China International Import Exhibition (CIIE) held in November 2018, in Shanghai, to display Pakistani products in the Chinese markets.
  • Pakistan gained a discount on 232 tariff lines under the Preferential Trade Agreement (PTA) with Indonesia.
  • Pakistan attended the Trade and Investment Conference in Seoul in August 2019.
  • Moreover, Pakistan also participated in large textile exhibitions like Heimtextil Frankfurt, and Heimtextil Moscow.

All these steps have not only boosted the garment sector of Pakistan but has also paved the way for future ventures.


Also See:

Pakistan’s Ready-Made Garments Exports Increase By 12% In The First Quarter Of FY 2019

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