After receiving preferential access to European Union markets, Pakistan was the fastest growing textile supplier among the EU’s leading 20 textile supplying countries in 2014, according to the latest issue of Textile Outlook International from global business information company Textiles Intelligence.
Preferential access has been provided to Pakistan in the form of the EU’s GSP+ scheme. This provides its exporters with duty-free access to the EU over a period of 10 years, and gives the industry in Pakistan an advantage over competitors that include India, Indonesia, Thailand, Vietnam and China.
Pakistan’s GSP+ status will be reviewed every two years, and its continuation will depend on the country implementing 27 core international conventions relating to human rights, labor rights, sustainable development and good governance.
The increase was first visible in Pakistan’s 2013–14 financial year, which ended June 30, 2014. Figures show that Pakistan’s clothing exports to Italy surged by 30.9 percent, exports to Belgium by 27.0 percent, exports to Spain by 25.5 percent, exports to the U.K. by 18.9 percent and exports to France by 18.8 percent.
Source: Textiles Intelligence