US Legislation To Abolish Textile Tariffs In Pakistan
Pakistan
The Ministry of Commerce said that the US delegation visiting Pakistan had conveyed to the government of Pakistan that the United States is legislating to cancel Pakistan's textile tariffs. If the legislation is passed, the Pakistan textile industry will not have to pay tariffs on the export of the US market.
On Monday, after Secretary of state Hilary Clinton released the news, US aid and Richard Holbrooke, the US special representative to Pakistan and Afghanistan, said that the legislation would abolish the tariff of 16% of Pakistan textiles, and the Standing Committee on foreign affairs of the Senate is now discussing this legislative issue.
At the committee meeting, did the US senators negotiate with the US trade representative office to cancel Pakistan completely?
textile
Customs duties.
They hope that the Obama administration will succeed in persuading them.
Senior US officials have promised to win greater market access for Pakistan textiles in order to promote trade and economic relations between the two countries.
At the same time,
Ministry of textiles
A senior official said that a greater us and European market access to Pakistan products by lifting tariffs would help Pakistan's exports expand from 8 billion to 10 billion dollars.
This means that by 2015, the total volume of textile exports in Pakistan is expected to increase from 10 billion 600 million US dollars to US $20 billion 600 million.
At present, Pakistan value-added products need to pay 16-20% tariffs on US exports and pay 13% of the tariff to European market exports.
However, if Pakistan textiles receive tariff free exports to these markets, such as India, China and Bangladesh, the export of textiles in Pakistan is expected to increase from 8 billion to 10 billion US dollars.
The official said that the goal of early completion of the redevelopment opportunity (ROZs) legislation is to create employment opportunities in the bordering areas of Afghanistan and promote the development of tribal areas, which will benefit Pakistan.
Gail Stree Keller (Gail Strickler) of the US Textile Trade Representative Office recently met with the Pakistan textile delegation visiting the United States. He assured the delegation that every effort would be made to help Pakistan manufacturers to promote imports and exports and improve the quality of products.
Paul Jones, deputy representative of the office of the US trade representative, said that improving the market access of Pakistan products is part of the strategic dialogue between the United States and Pakistan. (Jones)
Better economic cooperation and development will eliminate the friction caused by the trust deficit between the two countries.
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