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Improved Quality Crucial For Textile To Survive Post Quota |
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2003-10-29
A new study suggested that improved quality will be crucial for the
textile industry of Pakistan to survive after the quota barriers are
lifted in January 2005.
According to the Karachi Chamber of Commerce & Industry textile
exports, which make up 67 per cent of Pakistan’s total exports, will face tough competition from China, Thailand, Hong Kong and Bangladesh when the Multi-Fibre Agreement expires at the end of December 2004.
In its research on the implications of various World Trade Organisation accords, the study cautions: "Potential growth of Pakistan''s exports depends on the ability of producers to improve the quality of their exports, improvement in productivity and restructuring of the domestic industry."
It also study advises companies that there will be increasing pressure from foreign buyers to comply with social, labour, health, hygiene and environmental standards – and that non-tariff barriers will also be in force after the end of the quota regime.
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