APTMA to attend PaKistan moot in Germany

APTMA to attend PaKistan moot in Germany

conference, and his prime focus would be on highlighting trade and investment policies of Pakistan. A positive impact of the GSP Plus (Generalized System of Preferences) facility from the EU (European Union) on Pakistan economy would also be topic of his presentation in the conference. He added that he would also highlight potential areas of investment in Pakistan textile industry for the German investors.
The APTMA, he said, was already getting technical support from  the GIZ in achieving energy efficiency, renewable energy, sector benchmarking, cleaner production, water management, waste management, health safety and environment. He said Pakistan was an emerging textile hub in the region and had strong proximity with emerging textile and clothing hubs of China and India.
Yasin Siddik said that Pakistan was 4th largest producer of cotton, 3rd largest consumer of cotton, having a population of 185 million with 66 percent above 15 years of age, while 15 million people were attached to textile industry with per capita income of $ 1372 per annum.
Yasin Siddik said Pakistan and Germany had strong bilateral trade relations with total trade volume of $2 billion, adding, Germany was  major trade and investment partner of Pakistan with $1.14 billion  imports and $98.8 million exports besides an FDI (Foreign Direct Investment) of $28 million and $83 million remittances from Germany.
He hoped that the GSP Plus from the EU would reinvigorate Pakistan economy and create additional employment opportunities.
He said Pakistan government was creating enabling environment by investing heavily in infrastructure and capacity building and had put special emphasis on privatization, liberalization and attracting foreign investment, allowing duty free imports of machinery, equipment and raw material.