PAKISTAN GOVERNMENT PUSHES FOR TRADE DEAL WITH TURKEY, BUT TEXTILE SECTOR HAS JITTERS
March 9th, 2015
THE PAKISTAN government has launched a diplomatic offensive to improve trade relations with Turkey, which it hopes will enable its textile sector to win back Turkish market share lost after Turkey initiated safeguard measures against Pakistani textile products in 2011. Turkey introduced a special high 42.2% safeguard tariff (called MHF Cess) on Pakistani knitwear and textile garment exports to protect its industry. The country’s textile exports to Turkey fell from USD906.58 million in 2010-11 to USD455.83 million in 2014-15, said official trade data.Speaking to ...
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