The textile, hosiery and knitwear manufacturers and exporters have been advised to prepare themselves for the World Trade Organisation (WTO) challenges by identifying the new WTO opportunities, post-quota regime and global marketing accesses.
This was observed by the WTO laws experts at a seminar on "Hosiery/knitwear industry and challenges of coming Scenario", organised by the Pakistan Hosiery Manufacturers Association (PHMA).
Addressing the seminar, WTO international consultant Huma Fakhar said there were several opportunities, to be provided in the WTO regime, and "we could benefit from those through focussing on finding out post-quota regime's new marketing accesses and technologies."
The global trade trends were continuously changing day by day after phasing out the quota system and that amazing situation would develop the relationship between the textile sector and the WTO, she added.
Huma said the Free Trade Agreement (FTA) had been signed between Chile and the USA, and Pakistani businessmen could fully take advantage of that pact by exporting their hosiery and knotted wear exports through the active role of the Federal Finance Ministry.
She said it was a point of concern that now the US buyers were asking the Pakistani companies to ensure the security compliance's on their all shipments, which was very hard for everyone.
Speaking next, Sialkot PHMA Chairman Arshad Javed Sandal said with the increase in number of sports article manufacturers, the export of sports wear had also gone up.
He expressed the hope that the city's exports share after the post-quota regime would be 40 percent soon, which was just 18 percent.
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