The All Pakistan Textile Mills Association (APTMA) Punjab Chairman Adil Bashir has announced to work with the European Union (EU) on all the initiatives to ensure sustainability and growth of the textile industry in Pakistan.
LAHORE (Pakistan Point News / Online - 23rd October, 2019) The All Pakistan Textile Mills Association (APTMA) Punjab Chairman Adil Bashir has announced to work with the European Union (EU) on all the initiatives to ensure sustainability and growth of the textile industry in Pakistan.He was speaking on the occasion of the visit of the EU's Ambassador Designate to Pakistan Androulla Kaminara to the APTMA Punjab office here on Wednesday.Chairman APTMA made a detailed presentation on the Association and highlighted that its members are corporate entities compliant to all social standards while producing goods predominantly meant for exports.
He said the APTMA has taken an active part in securing of EU's GSP+ status for Pakistan in 2014 to widen the market access available e to Pakistan.Since the grant of GSP Plus status in 2014, he added, the exports of Pakistan to the EU have increased by 62%. In the early years of the facility, Pakistan's exports to the EU witnessed significant growth but it has become stagnant at 5514 Million Euros for the last three years. He said the prime reason was relocation of buying houses of major retailers and brands to other competing countries besides the high cost of manufacturing in Pakistan.
However, he stressed, the present government has taken special measures to encourage industrialization and exports, and the business scenario is changing fast in the country. APTMA along with the Federal government is formulating a long term textile policy to set direction for sustainability and growth of Pakistan's textile sector, he added.
