Pakistan-Turkey : Tariff hike to affect textile exports
Industry officials say $240m worth of exports may be hurt.
FAISALABAD:
The proposed increase in custom tariff on Pakistani textiles by the Turkish government will jeopardise exports of garments, home textiles, made-ups and fabrics to Turkey, say officials of the Pakistan Textile Exporters Association (PTEA).
PTEA Chairman Wasim Latif and Vice Chairman Adil Manzoor Elahi said in a statement that heavy custom duties of 52 per cent would be imposed on Pakistani garments, 24.5 per cent on denim fabrics and 24.5 per cent on woven fabrics.
Turkey is a key market for Pakistan’s textile exports, which stood around $350 million last year. They pointed out that the increase in custom duties would likely hurt $240 million worth of exports.
The Turkish move would exacerbate troubles of the textile industry that has already been affected by power cuts, they said. They felt that the hike went against international trade standards and violated world trade regulations.
They said the decision was unexpected after an agreement reached between the two countries during the Pakistan-Turkey CEO Forum which targeted bilateral trade worth $2 billion.
PTEA officials said they would take up the matter with the Turkish government and inform them about the negative impact of the move on Pakistan’s textile sector and the economy.
Published in The Express Tribune, March 30th, 2011.
The proposed increase in custom tariff on Pakistani textiles by the Turkish government will jeopardise exports of garments, home textiles, made-ups and fabrics to Turkey, say officials of the Pakistan Textile Exporters Association (PTEA).
PTEA Chairman Wasim Latif and Vice Chairman Adil Manzoor Elahi said in a statement that heavy custom duties of 52 per cent would be imposed on Pakistani garments, 24.5 per cent on denim fabrics and 24.5 per cent on woven fabrics.
Turkey is a key market for Pakistan’s textile exports, which stood around $350 million last year. They pointed out that the increase in custom duties would likely hurt $240 million worth of exports.
The Turkish move would exacerbate troubles of the textile industry that has already been affected by power cuts, they said. They felt that the hike went against international trade standards and violated world trade regulations.
They said the decision was unexpected after an agreement reached between the two countries during the Pakistan-Turkey CEO Forum which targeted bilateral trade worth $2 billion.
PTEA officials said they would take up the matter with the Turkish government and inform them about the negative impact of the move on Pakistan’s textile sector and the economy.
Published in The Express Tribune, March 30th, 2011.