TEA to take Textile Minister’s help to accomplish FTAs with EU
Tirupur Exporters Association has sought the textile minister to import the list of fabric items under Export performance certificate with no import duty to be paid in order to compete with other competing markets like Bangladesh. A total of $17 billion worth of garment sector where $6.28 billion (36.97 percent ) was exported to EU which can even see more if India establishes Free Trade Agreement with EU in sooner times said the memorandum. The memorandum stressed that Bangladesh export $15 to EU alone as it enjoys duty free market status.
Pointing out total garments exports by bangladesh of value $26 Billion, TEA very confidently iterated that India can surpass all these competing market once the free trade agreements get established. If India establishes the Free Trade Agreement, India would wintness 30% for the next three years and double of 30% after the next three years. Growth will get double after three years.
TEA Statement about CEPA & CEPAon behalf of export companies in tirupur:
Tirupur Exporters Association requested to formalise Comprehensive Economic Partnership Agreement with Canada and Comprehensive Economic Cooperation Agreement with Australia to curb the trend of declining to these countries . Least developed countries tariff treatment is being enjoyed by Bangladesh and Cambodia where Pakistan and Vietnam get benefit from General Preference Tariff (GPT)
Tirupur Exporters Association said that garment exporters would have grown to $33 Billion once FTAs are established.