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Pakistan:Turkey grants additional textile quota worth $10 million for fabrics exports |
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2004-10-11
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Turkey has granted 3,000 tons of fabrics exports exceptional flexibility quota for 2004 to Pakistan, the commerce ministry said on Friday.
Earlier, for the years 2002 and 2003, Pakistan and Turkey had earlier signed on agreement whereby Turkey provided 3,000 tons exceptional flexibility quota to Pakistan for 2002 and 2003.
The government had sent a team recently to Turkey to impress upon the authorities there to sign an agreement immediately. Consequence of this visit, Turkey signed the agreement and granted 3,000 tons exceptional flexibility quota in the following proportions; 2,000 tons (printed fabrics) for category 2A and 1,000 tons (blended fabrics) category 3.
The quota increase will fetch additional amount of $10 million worth of fabrics for Pakistan fabric exporters this year. “With this additional market access, our industry will be well placed to smoothly face the challenges of transition to post quota era by enhancing their market share in Turkey,” the statement said.
The statement said local exporters in order to continue their export momentum to Turkey in 2004 needed more quota but exporters could not export due to non-availability of additional quota.
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