All Pakistan Textile Mills Association (APTMA) Chairman Mohsin Aziz has said import duty exemption on 50 textile products out of a list of 64 items in the EU countries would contribute positively to Pakistan economy. He said Pakistan exported dollars 4.7 billion products to EU last fiscal year, with major share of Germany and UK followed by Belgium and Spain.
APTMA Chairman expressed the hope that Pakistan would benefit from this concession during last quarter of ongoing fiscal to the tune of dollars 400-500 million with completion of approval process ahead. According to him, there is an urgent need of expediting the approval process from the EU Parliament after the WTO.
Only an immediate and timely passage of the facility from the EU Parliament would serve the purpose and benefit Pakistan economy, he asserted. Meanwhile, APTMA Chairman has also appreciated the sincere efforts of Ministry of Textile, Ministry of Commerce and Ministry of Foreign Affairs in achieving this facility for Pakistan's textile industry. He further stressed the concerned ministries to address the outstanding issues of textile industry for an increase of 35 percent in its exports.
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