The United States Is In The Process Of Cancelling The Tariff Of Pakistan Textiles.
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, US senators negotiated with the US trade representative office whether the tariff of textiles in Pakistan would be abolished completely.
They hope that the Obama administration will succeed in persuading them.
Senior US officials have promised to serve as Pakistan.
textile
Striving for greater market access in the United States to promote trade and economic relations between the two countries.
At the same time, a senior official of the Ministry of textiles said that through the abolition of tariffs, greater market access to the United States and Europe for Pakistan products could help Pakistan's exports expand from 8 billion to 10 billion US 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
Exports to the United States will be subject to 16-20% tariffs and 13% of European market tariffs.
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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