Pakistan Entrepreneurs Plan To Move Textile Mills To Bangladesh

　　　 Pakistan Entrepreneurs are planning to move their textile manufacturing enterprises to Bangladesh to make use of Bangladesh. European Union The market enjoys the tax exemption advantage of the least developed countries.

Former textile minister M Stacie Ali Gemma (Mushtaq Ali Cheema) said manufacturers accused Pakistan of rising production costs, electricity shortages and increased taxes and low access levels in developed countries.

Bangladesh, on the other hand, has offered generous incentives, including no electricity outage, full tax exemption for the first ten years, and free access to the EU market. tariff 。

In September, a Pakistan trade delegation told Bangladesh trade institutions that they were eager to move textile companies to Bangladesh. According to Jima, exporters and manufacturers are disappointed with the short business vision of the Pakistan government. The government has completely ignored the textile industry in Pakistan.

Experts say Bangladesh has enjoyed the EU's duty-free market access, because Bangladesh has the least developed country status. As of the year ending June, Bangladesh exported about 10 billion US dollars of textile products to the European Union.

In contrast, Pakistan's total exports to the EU for the same period amounted to $3 billion 300 million, of which $900 million came from 75 EU customs free access. commodity 。

Another development is that floods occurred in Pakistan last year. As an aid, the EU plans to give preferential preferential policies to Pakistan textile manufacturers. It is reported that Bangladesh is considering withdrawing complaints against the European Union.

Bangladesh's foreign secretary Mohamed (Mohamed Mijarul Quayes) confirmed that Bangladesh would withdraw its complaint to Geneva.

Meanwhile, Muhsin Aziz, chairman of the all Pakistan Textile Mills Association, said on Wednesday that Bangladesh's objection to Pakistan's GSP plus status is groundless.

He added that Pakistan will never pose a threat to Bangladesh's textile industry in the EU market.