Page 24 - November-December-2018

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PRGMEA seeks

representation of SMEs in

Textile Committee

Mr Ijaz A Khokhar, Chief Coordinator PRGMEA has He urged upon the government to take immediate
urged the government to ensure maximum steps for discouraging the export of raw material and
representation of SMEs in Textile Committee for encourage export value-added products and State
formulation of next five years textile policy. He said Bank of Pakistan should facilitate value-added textile
that Sialkot had become fourth largest producer of exporters by allowing and giving direction to the
readymade garments and sportswear, particularly in authorized dealers to make import advance
payments against Irrevocable letters of Credit (LA/C)
martial arts uniforms but excluded from up to 100pc of value of the goods and up to $10,000
representation in textile committee. He said that per invoice for the import of all eligible items without
textile policy incentives are not provided to the the requirement of L/C or bank guarantee from the
business community for the promotion of supplier abroad. Also, a clear policy should be
value-addition of textile sector. announced for the clearance of all pending refund
claims of exporters.
In 2017-18, the exports of the value-added garment
sector grew 11.22pc despite internal and external He suggested that government should constitute a
challenges. The sector was a major taxpayer, the Special Committee on CPEC with the concerned
largest employment generator in the entire textile Associations for taking care of the domestic industry
chain and exports up to US$5.5 billion. and investors.

Vietnam's Garment

textile export turnover

$36 billion

According to Mr Vu Duc Giang, Chairman Vietnam reached $3.95 billion, up 9.9 pc, according to Mr Le
Textiles and Apparel Association (VITAS), in export Tien Truong, general director of the Vietnam National
turnover this year, the Vietnam textile garment sector Textiles and Garment Group (Vinatex).
has grossed over $36 billion which is more than
16.01pc as compared to previous year. Over the past Throughout the year, the sector ran a trade surplus of
three years, this is the highest rise compared to about $17.86 billion, representing an increase of
12.1pc in 2015, 4.07pc in 2016, and 10.8pc in 2017. 14.39pc on year on year basis. VITAS has set the
target of raising the export turnover to $40 billion in
In 2018, the export turnover of clothes hit $28.78 2019, up 10.8 pc and bringing trade surplus to $20
billion, up $14.45pc; while that of fabric was $1.66 billion, in turn ensuring jobs and raising incomes for
billion, up 25.5 pc; and the export values of yarn 2.85 million workers.

November/December 2018