“Amir Hussain, an economist at Trade Development Authority of Pakistan (TDAP), said that there were some supply issues in Egypt. The US was buying textiles and clothing worth a billion dollars a year from Egypt, he said. If the US buyers opt for Pakistani products, it is a significant opportunity for local producers, he said. “Pakistan could easily capture business worth $400 to $500 million if it seizes this opportunity,” said Hussain” “Haroon Agar, President Karachi Chambers of Commerce and Industry (KCCI), reported that big clothing and textile buying houses in the US are placing orders with Pakistani producers.“More business will be beneficial for the country’s industry,” said Agar” “Textiles and clothing account for over 75 percent of Pakistan’s total exports. Further, exports to US markets alone stood at $2.912 billion between July and March of the current fiscal year” “Exports of textile and clothing surged to $1.167 billion in March 2013 from $1.03 billion during the corresponding month of the previous fiscal year, according to data made available by the Pakistan Bureau of Statistics. Export of textile and clothing rebounded because of a slight rise in demand from recession-hit key markets of Europe and the US, and an improvement in domestic production” “Industry sources attribute improved performance to an uninterrupted supply of gas being provided to the textile sector. Yarn and fabric exports improved significantly owing to this factor, sources report” “Growth in value-added textiles is a spillover of developments in China and Taiwan, industry experts say. Rising labour wages have significantly increased production costs in these countries”
Date:4/28/2013
Source:Fibre2fashion News Desk – India