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Pakistan expects export growth

worth $3.2 bn after FTA-II Indian MMF exports to

If just five percent of the free market access offered have been liberalised in phase-II were as phase I reach $7 bn in 2020-21
by China under the China-Pakistan Free Trade had only liberalised 30 percent. This liberalisation
Agreement (Phase II) is realised for the 313 covers 88.3 percent of China's global imports or
high-priority tariff lines, Pakistan will see an $1.6 trillion, according to Pakistani media reports. India’s exports of man-made fibres (MMF) is likely period in the previous fiscal.
estimated export growth of $3.2 billion, said Hamid to hit $ 7 billion by the end of the fiscal year
Ali, joint secretary of Foreign Trade-1 at the The sensitive list has been enhanced from 1,410 in 2020-21, up 10 percent from the ongoing level, SRTEPC has prepared a 20-point strategy for the
Commerce Division. CPFTA-I to 1,760 in CPFTA-II after thorough says Ronak Rughani, chairman of the Synthetic development of MMF textile segment. The points
consultation with stakeholders. Provisions have and Rayon Textiles Export Promotion Council include bringing in fibre neutrality, lowering interest
He was speaking at a seminar where he also said been introduced to address the balance of payment (SRTEPC). rates, making raw materials to be made available at
since the enforcement of CPFTA-II on 1st January (BoP) difficulties, Ali said. Effective enforcement of international price, considering textile job work as
2020, Pakistan's export interest have been greatly electronic data exchange will also ensure sharing of India’s current MMF exports are not encouraging, manufacturing in the goods and services tax
secured as around 83 percent of the country's the real time trade data to discourage under but exports in value-added segments like fabrics regime, considering textile merchant exporters as
global exports have been liberalised in the invoicing and misreporting. witnessed nearly 8 percent growth during April-Oc- manufacturer exporter, branding and WTO-compat-
agreement’s second phase which were just 41 tober period in 2019-20 as compared to the same ible schemes.
percent under phase-I. Safeguard measures have been introduced to
temporarily restrict imports of products that harm the
Similarly, 91 percent of Pakistan's exports to China domestic industry.
China posts stable growth

Global cotton trade expands as Latin of textile industry for 2019

America gears up for export growth

China's textile sector has reported stable growth in
percent yearly growth and new sales modes such
the first 11 months of 2019, data from the National nationwide, with the turnover reporting a 16.5
The International Cotton Advisory Committee Latin America should meet some of that Development and Reform Commission showed. as live video streaming attracting consumers, the
(ICAC) has projected that the global cotton trade additional demand. Brazil’s production is data showed.
will expand by 2% in the 2019/20 season, expected to remain high at 2.76 million tonnes According to the data by the commission, the
reaching 9.4 million tonnes with China retaining and exports are expected to grow by 19% to 1.7 value-added output of enterprises above From January to November 2019, China's textile and
its top spot as the world’s biggest importer at 1.8 million tonnes. Argentina also is projected to designated size rose 2.5 percent year on year, with garment export declined 2.6 percent year on year to
million tonnes, although that figure would increase its production to 358,000 tonnes, output in the sub-sectors of fiber, industrial textiles 246.9 billion dollars, with the pace of drop decelerating
represent a year-over-year decline of 14%. posting a gain of 39%, while imports are and garment up by 11.8 percent, 7.1 percent and 1 0.1 percentage point from a month earlier.
expected to increase by 57% to 186,000 tonnes. percent respectively.
Production is expected to decrease in some At current estimates of production and Textile firms over designated size generated
major producing countries, with Turkey being consumption, cotton prices should make modest As per the data, the domestic retail sales of apparel combined operating revenue of 4.03 trillion yuan
revised downward to 815,000 tonnes and gains through the end of the season. The and knitwear stood at 1.2 trillion yuan (about 172.4 from January to October 2019, up 0.2 percent year
Pakistan to 1.35 million tonnes. As a result, Secretariat’s current price projection for the billion US dollars), up 3 percent year on year. on year, while the total profit dropped 8.7 percent
imports will revise for both countries to 818,000 year-end average of the Cotlook A Index has Online garment sales continued to expand year on year to 168.8 billion yuan.
tonnes and 967,000 tonnes, respectively. been revised to 80 cents per pound.

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