LAHORE: The European Union will assist the local textile industry to work towards ensuring sustainable growth of the country’s textile sector.
“Pakistan needs to prepare itself to meet the challenges of sustaining the Generalised System of Preference 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) on Tuesday.
With the grant of GSP+ status in 2014, exports to the EU grew by 62%, with significant growth in the early years, but for the last three years, it has stagnated at €5.514 billion.
The main reason was the relocation of buying houses of major retailers and brands to other competing countries and the high cost of manufacturing in Pakistan. However, the present government has implemented special measures to boost industrialisation and exports to revitalise the business scenario in the country.
Kaminara said the global consumer outlook had seen a significant shift and has become socially responsible. “There is no doubt that Pakistan has a vast potential to double its exports. However, perception management is the key for the government and industry to maintain and sustain,” she maintained.
For more news and blogs, visit graana.com.
Islamabad: The Federal Board of Revenue (FBR) is preparing to seek approval from the International…
Riyadh: As Saudi Arabia’s Vision 2030 enters its third phase for the period 2026–2030, the…
Islamabad: The Capital Development Authority (CDA) has earmarked PKR 200 million to settle outstanding land…
Lahore: Punjab Governor Sardar Saleem Haider Khan has promulgated two key ordinances aimed at modernising…
Islamabad: Pakistan’s tax authorities are intensifying efforts to detect undeclared wealth by monitoring social media…
Karachi: The State Bank of Pakistan (SBP) has indicated that it will maintain a cautious…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
