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10th textile asia 2013 international fair held at expo centre

10th textile asia 2013 international fair held at expo centre Source:
Date: 13-03-2013
Visits: 280
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Around 210 exhibitors and more than 115 foreign delegates attended the 10th Textile Asia 2013 International Exhibition, the largest annual textile and garment machinery show of textile industry of Pakistan.
China is the leading textile exporter of the world’s total exports of $400 billion. Country wise major market shares of the textile exporting countries are China $55 billion, Hong Kong $38 billion, Korea $35 billion, Taiwan $16 billion, Indonesia and Pakistan $9 billion each.
More than 310 international textile brands from 27 countries put on demonstration at Textile Asia, which started on March 8, 2013 at Karachi Expo Centre.
Pakistan is transforming itself from being a stagnant economy to fast-paced emergent economy as a result of the structural reforms introduced by the government in the areas of investment, business and trade in addition to covering social, political, judiciary and security.
Pakistan warrants unique proposition to make investments here as country lies at crossroads to South Asia, Gulf and Central Asia, it gives direct market access to more than half a population of the world that lives here, said Dr Mirza Ikhtiar Baig adviser to PM on Textile, Ministry of Textile Industry.
Investors enjoy full legal protection for their investment as they have 100 percent equity with no bar on transfer of dividends, which is a proof Pakistan has one of the most congenial business environments in the region.
The present global scenario of textile industry with particular reference to the position of Pakistan in the international textile market is vital. The demand for textiles in the world is around $18 trillion, which is likely to be increased by 6.5 percent.
Government of Pakistan has allowed duty free and tax free import of textile machinery to encourage capital investment in textile sector.
Inspite of energy shortage, textile exports increased constantly for the last 5 consecutive years, achieved export of $14 billion last year. Pakistan ranks 2nd highest exporter of cotton yarn, 3rd highest exporter of fabric, 4th largest producer and consumer of cotton in the world market with a share of world yarn trade of about 30 percent and cotton fabric about 8 percent.
We have signed accord with Monsanto for BT cotton to improve the yield per acre, which is low and at 13th position in the world. We have large spinning capacity with major part of European, Japanese and Chinese machinery.
EU has allowed duty free excess for 65 textile products for the year 2013 and in principally agreed to give Pakistan Generalised System of Preferences (GSP) Plus Status from January 2014, allowing duty free export of all textile products to EU.
We have entered second phase of FTA with China to allow duty free export of textile product as well.
Our textile and garment exports have reflected high growth of 25 percent in year 2011 in terms of quantity as well as value.
Textile sector is the backbone of our economy having 55 percent of our total exports and 38 percent job creation in the manufacturing sector and holds great importance as it significantly contributes to our exports and foreign exchange earnings. We have fixed an ambitious target of $25 billion till 2014 in the new five years Textile Policy with 2 times value addition target.
The new Textile Policy 2009-2014 allows various incentives including concessional financing (LTF) to encourage capital investment in value added textile sector.
Pakistan textile sector would like to invite the participants in joint ventures to take advantage of investment friendly environment and exploit the untapped potential textile sector offers.
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