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EU presses Dhaka to buy Pak fabric - LahoreEstate - 10-18-2009 05:41 AM
Sunday, October 18, 2009
By our correspondent
KARACHI: The European Union has pressed Bangladesh and other least developed countries enjoying duty-free market access to the EU to buy fabric also from Pakistan for getting the facility of Global System for Preferences (GSP).
Bangladesh has not given this facility to Pakistani fabric but with the change of Rules of Origin in January 2010, it will allow Pakistan the facility.
The Bangladesh Textile Mills Association has opposed the new criteria of the EU on the ground that substantial investment has been made in Bangladesh’s primary textile sector — spinning and weaving — to the tune of $4 billion to get the benefit of GSP facility on supply of yarn and fabric to local garment manufacturers.
Federal Textile Adviser Dr Mirza Ikhtiar Baig, in a press statement, said the EU move would enhance exports of Pakistani fabric to Bangladesh.
He said a joint commission meeting would be held in Brussels on Oct 20 which would discuss duty-free access for Pakistan to EU markets.
http://www.thenews.com.pk/daily_detail.asp?id=203700