Page 5 - TEXtalks. October- November 2023

05

European Union GSP+ extension; Asia's
leading business platform for textile

machinery; Successful edition of Inspiring

Change Conference

One of the most positive news for Monetary Fund (IMF) recently
the Pakistani economy and our revised its forecast for China's GDP
textile sector. The renewal of GSP+ growth upwards to 5.2% in 2023
status was originally subject to from its previous projection of 4.4%
each country's progress on the last October.
progress of the 27 conventions
ratified by the countries in the past ICC’s 6th edition received an
decade. Pakistan sustained its overwhelming response and great
textile exports on the strength of encouragement from the textile
GSP+ status. A scrutiny by the EU industry. From knowledgeable
on our performance on human presentations to thought-provoking
rights, environment, and workers’ and all-aspect-focusing panel
rights would not have gone well for discussions, no topic was left
Pakistan and many international undiscussed at the power-packed
lobbies were asking the EU not to conference.
renew Pakistan’s status. But
Pakistan was spared this With around 300 key participants,
embarrassment when the EU all the global key textile
increased the duration of the professionals and stakeholders
GSP+ status of all countries by gathered under one roof to discuss
four years. sustainable solutions for the
challenges faced by the industry.
The upcoming exhibition ITMA Visitors had extremely positive
ASIA + CITME will be held in reviews and expressed that ICC
Shanghai at the National Exhibition 2023 and TEXmeets 2023 were a
and Convention Centre from 19 to one-for-all platform and contributed
23 November 2023. ITMA ASIA + greatly towards the progress of the
CITME, Asia’s business platform textile industry of Pakistan. The
for textile machinery, continues to event successfully linked many key
draw interest for its exhibition, with decision-makers and visitors in
more than 1,400 exhibitors from 24 meetings with international
countries and regions applying to organizations. It became a
take part in combined exhibition. socializing hub for everyone to
discuss and communicate their
ITMA ASIA + CITME moved the business ideas and to discover the
exhibition to Shanghai to enable innovative ideas of others as well. It
our members to take advantage of turned out to be a learning
the buoyant textile sector in China experience for every single
after the country joined the World participant there. As the
Trade Organisation in 2001. conference wrapped up with a
Exhibitors are also buoyant about successful hit gathering the global
prospects as China’s economy is textile industry as one, TEXtalks
projected to be performing better promised to return bigger and
than expected. The International better for the coming year 2024.

October/November 2023