ISLAMABAD, July 1: Additional market access for textile exporters by Turkey worth $11 million per annum will post fresh resilience to country’s exports.

An extra 3000 tons of textile quota to Turkey during 2002-03, will further deepen trade ties between the two countries, sources at textile industry said on Monday.

Turkey was asked for greater market access and they agreed to allow extra 3000 tons of exports in any category but not more than 2000 tons in one category, added the sources.

The decision was announced during the Joint Ministerial Commission (JMC) meeting, held in Ankara from June 20 to June 21, 2002.

Pakistan having the capacity of enhanced production in denim material will take this opportunity to export up to 2000 tons of extra denim to Turkey and it will give benefit to Pakistan of around $11 million in terms of exports.

Grant of greater market access to Pak textile exports will certainly help further strengthen the economic relations between the two countries, opening new avenues of trade and business cooperation, observed the sources.

The exporters of denim, who accompanied the Commerce Minister during this visit, have assured that they would realize the enhanced exports of denim before the end of 2002. While in other categories, Pak exporters were not meeting the exports quota for Turkey and currently these ranges between 5 per cent to 30 per cent in various categories.

Total trade volume between Pakistan and Turkey was to the tune of $147 million during 2000-01 with $100 million exports and $47 million imports as against $61 million in 1999-2000 and $38 million in 1998-99.

During July-April period of 2001-02, Pakistan’s exports to Turkey were to the tune of $76 million with imports at $23 million.

Turkey has also verbally agreed to enhance this quota facility up to 2004, on the request of Pakistan, but it will be formally discussed during the Turkish Commerce Minister’s visit here in September next.

Pakistan and Turkey signed four agreements at the 12th Pak-Turkey JMC held in Ankara last week. These agreements pertain to Small and Medium Enterprise Development Authority (SMEDA) and Small and Medium Industry Development Organization of Turkey (KOSGEB), Cooperation and Mutual Assistance in Customs matters, Technical and Scientific Cooperation on Technical Cooperation between Pakistan Standards Quality Control Authority (PSQCA) and Turkish Standards Institutions.

Under these agreements, there will be exchange of people between the two countries to learn each others experiences and expertise in the related areas.—APP