LAHORE: The European Union (EU) and local textile industry joined hands on Tuesday to work towards ensuring sustainable growth of the country’s textile sector.
“Pakistan needs to prepare itself to meet the challenges of sustaining Generalised System of Preferences Plus (GSP+) status so as to avail the opportunities of increasing exports to the EU,” the union’s Ambassador-Designate to Pakistan Ms Androulla Kaminara said while speaking at a meeting with the All Pakistan Textile Mills Association (Aptma).
Since the grant of GSP+ status in 2014, the country’s exports to the EU have increased by 62 per cent. In the early years of the facility, Pakistan’s exports to the EU witnessed significant growth but later stagnated at €5.514 billion for the last three years.
The prime reason was the relocation of buying houses of major retailers and brands to other competing countries besides the high cost of manufacturing in Pakistan. However, the present government has taken special measures to encourage industrialisation and exports, and the business scenario is changing fast in the country.
Kaminara said the global consumer perception had completely changed and it has become more conscious to socially responsible for environment-friendly products. “There is no doubt that Pakistan has vast potential to double its exports. However, the perception management is the key for the government and industry to maintain and sustain,” she maintained.
Published On : 23-10-2019
Source : Dawn
