ISLAMABAD, March 12: Pakistan's textile quota will increase by about 15 per cent during the year 2004 following the entry of 10 new countries into the European Union.
Well-placed sources told Dawn on Friday that due to this increase in the quota, exports of all textile, clothing and made-ups would register a significant increase during the year 2004.
According to the sources, the increase in quota would be applicable from May 1, 2004 as the 10 new countries would formally join the EU club by April 30, 2004.
Elaborating further, the sources said that this increase would be substantial and it would be in the range of 15 per cent in all categories in EU member countries.
"This will raise our exports in the valued added sector - clothing, made-ups, besides yarn and fabrics. Pakistan will benefit from this increase as presently value-added textile products are exported to EU member countries at the zero per cent customs duty."
The sources said the EU had emerged as a major market for Pakistan's textile and clothing exports. Pakistan's made-ups and clothing were in high demand in the EU markets.
