Pakistan textiles lifted by WTO trade waiver

KARACHI — It makes a change, but Pakistani textiles boss Asghar Hussain is pleased. A year ago, recession, power cuts and poor security forced him to sack most of his workers.

Now he’s hoping for a major improvement in garment sales after the World Trade Organization approved unprecedented waivers allowing 75 Pakistani products duty free access to markets in Europe for two years.

The European Union is Pakistan’s largest trading partner, receiving nearly 30 percent of its exports — worth almost 3 billion euros ($3.9 billion).

‘It means we should expect good gains… as Europe is a huge market for Pakistani readymade garments,’ said Hussain.

The signs are so good that Hussain has re-hired some workers, bringing his total staff to 50.