Abstract:
The research is on “Implementation of WTO regime on the textile industry of Pakistan”.
The purpose of the research is to analyze the impact of WTO regime on the textile industry of Pakistan and also the structure of textile industry, challenges faced by the industry, compliance issues, impact of free trade zone, threats and opportunities for the industry and strategies to follow to rule the textile industry.Pakistan has emerged as one of the major cotton textile product suppliers in the world market with a share in world yarn trade of about 30 percent and 8 percent in cotton cloth. The share of textiles in export earnings is 68 percent with a value of around $ 8 billion.The World Trade Organization (WTO) deals with the rules of trade between nations at a global or near-global level. It’s an organization for liberalizing trade.Government has taken certain reforms for betterment of textile industry. The Vision is aimed at establishing an open market driven, innovative and dynamic Textile sector which is internationally integrated, globally competitive and fully equipped to exploit the opportunities created by the quota free textile trade beyond January 2005.
Strategies which can be followed to protect Textile Industry of Pakistan can be:Remedy through foreign direct investment (FDI); Image Building of Pakistan to Attract FDI; Focus on Value Addition; Technology Up-gradation & capacity building; Human Resources Development; Accreditation and Certification; Reducing the cost of doing Business in Pakistan; Need for Improving Textile Production.
