On the one side appreciating the bold initiative of demonetisation of the Government, The Southern India Mills’ Association (SIMA) has also lamented the hardships faced by the mills.
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The European Union (EU), which has provided Pakistan GSP Plus status, has proposed to work on a a five-year strategic partnership with that country.The textile industry in Pakistan contributes 8.5 per cent to GDP and 60 per cent to exports while employing 38 per cent of the workforce. The EU has provided Pakistan GSP Plus status. Pakistan wants brand owners of textiles from the EU to divert the bulk of their buying from Pakistan since it is well placed for the production and supply of high quality textile goods at attractive prices. Fighting poverty and helping the country on its path towards inclusive and sustainable growth are the aims of EU support to Pakistan. The EU considers that such goals will only be achieved by increasing political stability, improving the rule of law, bringing about human and social development, creating productive and decent work opportunities and diversifying the economy.
The European Union (EU), which has provided Pakistan GSP Plus status, has proposed to work on a a five-year strategic partnership with that country.
The Textile Ministry has decided to close down six jute mills of the Bengal and Bihar-based state-run PSU National Jute Manufacturers Corporation (NJMC).
After having had four rounds of talks, Pakistan is pinning hopes on signing a free trade agreement with Thailand. Matters that have been discussed relate to trade in goods, rules of origin, technical barriers to trade, trade remedies, customs procedures, legal and institutional issues and trade facilitation.
India’s Ministry of Textiles is constantly in touch with the Ministry of Commerce for signing an FTA with the EU to boost trade especially in the textile sector. This was revealed recently by Secretary, Ministry of Textiles, Rashmi Verma.
Garment sector in Myanmar is expected to earn $2 billion in 2016-2017. Exports from the garment sector earned nearly 1.7 billion dollars last year. The sector is likely to grow five times more than its current status and employ between 3,00,000 and a million laborers by 2024. The aim is to reach a garment export value of ten billion dollars by 2024.