ISLAMABAD: The exports from Pakistan to European Union (EU) during January and February 2014 after granting of Generalised System of Preferences (GSP) plus status have showed northward trend.
Federal Minister for Commerce Khurram Dastgir Khan on Monday revealing the statistics of trade said according to sector-wise trade analysis of exports to EU during January-February 2014 there has been a substantial increase of 30.68 percent in textile garments from last year’s exports in January-February.
The total exports of textile garments during the first two months of last year stood at $342 million while they jumped to $446.91 million during the same period this year posting an incredible increase of $104.91 million.
Similarly, the volume of exports of home textiles to EU in January-February 2013 was to the tune of $214.18 which increased to $274.47 million during the first two months of this year making a remarkable addition of 28.15 percent in trade volume in this sector.
The leather and carpets sectors were also successful in making a strong mark and enhanced their share in the European market after the grant of GSP since January 12, 2014 as they managed an increase of 15.20 percent and 12.79 percent respectively during January-February 2014 compared with the same period in 2013.
The leather sector exported goods worth of $25.46 million in Jan-Feb 2014 while they could manage exports of about $22.10 million in Jan-Feb 2013. Similarly, during the same period last year the carpet sector fetched $8.76 million of foreign exchange while they leapt to $9.88 million this year.
Commenting at this substantial increase in exports as a result of GSP, Dastgir said the fruits of successful economic diplomacy of the present government have become visible and the economic indicators have started to show positive trend.
He was of the view numerous opportunities have presented themselves to Pakistani exporters as a result of trade negotiations with different countries and trading blocs and the government was encouraging Pakistani exporters to make the best use of them. He said the government was working hard to enhance Pakistani exports to EU in the non-traditional sector as well.
The Treaty Implementation Cell established on the directions of the Prime Minister showed government’s earnest resolve to achieve maximum benefits out of such trade arrangements, he added
ISLAMABAD – Pakistan and Korea have signed a Memorandum of Understanding to assure quality ...