Trade promotion: Diversification of export markets a priority, says textile minister

Access to new markets and regional economic integration part of policy.


APP March 21, 2014
The textile minister said the government would announce the annual textile policy by the mid of the current year. PHOTO: FILE

ISLAMABAD: Federal Minister for Textile Industry Abbas Khan Afridi on Friday said the government has decided to focus on searching for new markets in order to enhance the variety of exports at the regional and global level.

Soon after taking the charge of the portfolio of the Ministry of Textile Industry, Afridi said that the government’s top priority would be to enhance regional trade to bolster integration and strengthen cooperation with regional economies.

The minister said the government would announce the annual textile policy by the mid of the current year. “We are committed to evolving a comprehensive strategy for the development of the textile industry,” said Afridi. He said that the textile sector’s share of total exports is 54%, which needs to be enhanced in order to increase the trade volume.

Afridi said that the government would make a comprehensive strategy – short and long-term – for the revival of the textile industry. He stressed the need for modernising industrial tools and equip manpower with innovated skill and technology. The minister further said that the government wanted to include all stakeholders in the plan to initiate the modern management system to boost production.

The minister believed that a shortage of skilled manpower and outdated production methods were the main barriers in achieving targets and enhancing trade volume. He urged local industrialists to invest and train the manpower with modern instruments and use of information technology to compete with international investors.

He added that after overcoming the energy crisis in the country, the government would raise the production of textile to get more benefits from the GSP Plus status.

The minister said that in the past regime, the ministry had faced a shortage of budget to implement the plan. He said that the up-gradation of old textile infrastructure is a top priority. Afridi said that industrial development and foreign investment would depend on the law and order situation of the country.

Published in The Express Tribune, March 22nd, 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS (1)

unbelievable | 7 years ago | Reply The minister believed that a shortage of skilled manpower and outdated production methods were the main barriers in achieving targets and enhancing trade volume. . May improve profit margins but isn't going to enhance trade volume. The reality is that India, China, Bangladesh and other 3'rd World countries are tough competitors in value added textiles. You want to significantly expand exports then your going to have to diversify product not customer base - that means migrating away from textiles which is going to require foreign capital.
Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read