Page 15 - January-February-2017

Time to find new opportunities 15

with positive attitude

Danish Mission Deputy Head Jakob Rogild Jakobsen

Falsifying partnerships are barrier to further foreign traditional friendship and cooperation is different
investments and growth of textile industry of Pakistan. fields. However, the current situation demands for
Altering our attitudes in business strategies was the strengthening the relationship and making strong
primary point of discussion from Danish ambassador. business bonding. To move in the given direction,
On the last day of January, this year, the Danish necessary is to conduct more and more business
Mission Deputy Head Jakob Rogild Jakobsen, attended meetings, delegations and other opportunities where
and addressed the PTEA (Pakistan Textile Exporters the two countries can look closely into the possibili-
Association) meeting in Faisalabad, Pakistan. ties at both ends.

While addressing his main concerns he said that Pakistan owns a great deal of untapped potential and
despite the fact that Denmark and Pakistan are this can be used to strengthen the business relation-
trading with high volumes, there is still room for ships between the two economies; said so was by
improvement. Pakistan has huge investment and Danish ambassador. On the other hand, speaking on
growth opportunities, if managed properly. He also the occasion, the chairman of PTEA, Ajmal Farooq
shared his views that because of the huge market, termed Denmark as an important trading partner
Pakistan offers vibrant opportunities to the Danish from the European Union. He also said that the two
investors in various different sectors of market, economies have the potential of high volume trading
specifically Textile. but the opportunities are neglected and now there is
a need to look into the matter and polish these
It’s been long that the two countries are enjoying possibilities to earn mutual benefits.

Pakistan-EU exports hike by 37%

A recent review of the exports between Pakistan and The major beneficiary of the GSP plus are textile and
the European Union showed an upsurge of about apparel exporters from Pakistan. Sri Lanka and
37% in last 3 years. The report is determined by the Bangladesh, the toughest competitors of Pakistan,
generalized scheme of the preferences (GSP) in are already taking advantage of the duty-free access
addition to the status awarded to Pakistan by EU, to European alliance. This makes up around 60% of
back in December 2013. the net exports from Pakistan to EU. As according to
the statement of the Pakistan federal commerce
A zero tariff for exports is also giving a favor to the minister, Khurram Dastgir Khan; “The GSP status
Pakistani exports. The GSP status makes it possible offers huge potential for enhancing mutual trade
for Pakistan to mark an export of about 20% of the between Pakistan and the EU.” He further said that:
net exports at zero rates with preferential rates for
70% of the net exports. It is estimated that the annual “The focus of Pakistan has shifted towards
trade between the two regions will be above $7 strengthening its economy through trade rather than
billion. The balance of trade is also expected to be aid. Economic and social indicators are on the rise in
nearly equal. Pakistan.” Dastgir also revealed that the chemicals,
export machinery, and dyes from the European Union
Textile, medical equipment’s and leather products are also increased for about 14%. These products are
the major exported items by Pakistan to EU. The aim basically used in the manufacturing process of
of GSP plus status is to increase these exports to exports of textile and garments in the market of
about $ 2 billion and create more job opportunities. Europe.