Dumping duties: Delegation to visit Turkey to seek preferential tariffs
Ankara imposes heavy duties on fabrics and garments, Pakistan to accelerate efforts to obtain preferential tariffs.
KARACHI:
Pakistan has started accelerating efforts to obtain preferential tariffs from Turkish authorities as they have imposed dumping duties on garments and fabrics of Pakistan and other countries.
Pakistan is making all-out efforts to win concessions for fabrics and clothing to galvanise the flood-hit economy. A delegation will be visiting Turkey next week to meet the Turkish prime minister. Final agenda for the deliberations will be decided on Saturday in a meeting to be held at the office of the Trade Development Authority which will also be attended by garment and fabric exporters.
On the other hand, officials at the Pakistan consulate in Turkey have been asked to prepare themselves and help has also been sought from the Union of Chamber and Commodity Exchange of Turkey.
Imposition of dumping duty will harm the understanding reached to increase the volume of bilateral trade to $2 billion in a meeting of heads of state of the two countries, said Pak-Turkey Business Council Chairman Amjad Rafiq while talking to The Express Tribune.
Furthermore, he said that until December 2010 trade between Pakistan and Turkey stood at $1 billion and the dumping duty will bring down exports of Pakistan by 50 per cent which will mean that the trade target of $2 billion by 2012 will not be achieved.
Rafiq said that Prime Minister Yousuf Raza Gilani can play a vital role in the negotiations to win trade concessions from Turkey as Ankara has already played a key role in helping Pakistan during the recent floods and the earthquake of 2005.
Imposition of dumping duty will have severe consequences for the denim industry in the country, said a textile miller. He added that 40 per cent of total denim exports are being made for Turkey which is equivalent to $400 million and if duties are increased denim trade might come down by 70 per cent.
The European Union’s package for Pakistan to help bail out the flood-hit economy will be shown as an example to the Turkish authorities while seeking the concessions, he added.
Federation of Pakistan Chambers of Commerce and Industry Vice President Dawood Jakhura suggested that the matter should be handled by Pakistani diplomats posted in Turkey and they should try to explain the authorities the problems faced by the industries in Pakistan.
Turkey has increased the duty on fabrics by 35 per cent and on garments by 5 per cent.
Published in The Express Tribune, January 22nd, 2011.
Pakistan has started accelerating efforts to obtain preferential tariffs from Turkish authorities as they have imposed dumping duties on garments and fabrics of Pakistan and other countries.
Pakistan is making all-out efforts to win concessions for fabrics and clothing to galvanise the flood-hit economy. A delegation will be visiting Turkey next week to meet the Turkish prime minister. Final agenda for the deliberations will be decided on Saturday in a meeting to be held at the office of the Trade Development Authority which will also be attended by garment and fabric exporters.
On the other hand, officials at the Pakistan consulate in Turkey have been asked to prepare themselves and help has also been sought from the Union of Chamber and Commodity Exchange of Turkey.
Imposition of dumping duty will harm the understanding reached to increase the volume of bilateral trade to $2 billion in a meeting of heads of state of the two countries, said Pak-Turkey Business Council Chairman Amjad Rafiq while talking to The Express Tribune.
Furthermore, he said that until December 2010 trade between Pakistan and Turkey stood at $1 billion and the dumping duty will bring down exports of Pakistan by 50 per cent which will mean that the trade target of $2 billion by 2012 will not be achieved.
Rafiq said that Prime Minister Yousuf Raza Gilani can play a vital role in the negotiations to win trade concessions from Turkey as Ankara has already played a key role in helping Pakistan during the recent floods and the earthquake of 2005.
Imposition of dumping duty will have severe consequences for the denim industry in the country, said a textile miller. He added that 40 per cent of total denim exports are being made for Turkey which is equivalent to $400 million and if duties are increased denim trade might come down by 70 per cent.
The European Union’s package for Pakistan to help bail out the flood-hit economy will be shown as an example to the Turkish authorities while seeking the concessions, he added.
Federation of Pakistan Chambers of Commerce and Industry Vice President Dawood Jakhura suggested that the matter should be handled by Pakistani diplomats posted in Turkey and they should try to explain the authorities the problems faced by the industries in Pakistan.
Turkey has increased the duty on fabrics by 35 per cent and on garments by 5 per cent.
Published in The Express Tribune, January 22nd, 2011.