The Ministry of Textile (MoT) is in the process of formulating Textile Policy for the next five years to increase the country’s exports. Federal Board of Revenue (FBR) has been issued directives for duty-free import of textile machinery and Rs. 28 billion have been disbursed under Textile Policy 2009-14 initiatives. Pakistan’s biggest trade partner, the US is a key market for Pakistani textile and apparel exports. The Trade and Investment Framework Agreement (TIFA) provides the framework for co-operation in trade between the two countries. Bilateral trade showed growth in 2013. Exports from Pakistan to the US increased from the first half of 2012 to 2013 by 4 per cent whereas imports from the US into Pakistan increased by 10 per cent. Pakistan is in process of commencing negotiations to conclude FTAs (Free Trade Agreement) and PTAs (Preferential Trade Agreement) with Bangladesh and Nepal.
