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Sign FTA with European Union, Centre urged

Staff Reporter

Tirupur: The knitwear exporters here have requested the Union Government to expeditiously sign the planned Free Trade Agreement (FTA) with the European Union so that export of apparels could get an impetus.

In a memorandum submitted to Prime Minister Manmohan Singh, the Tirupur Exporters' Association had pointed out that a FTA with European Union at this critical juncture would help double the exports of garments to EU countries within the next three years.

The association had also made a request for an imposition of 15 per cent duty on export of cotton yarn so that its availability in the domestic market in requisite quantities could be assured.

Another demand was that the government should not allow exports of cotton more than the cap of 55 lakh bales fixed for the current year.

Under the banking sector, the TEA wanted the Prime Minister to make sure that pre-shipment and post-shipment export credit in rupee had to be given at the ‘base rate' itself.

Till such time, the credit rate given to the exporters need to be fixed at 7 per cent, association president A. Sakthivel said.

Mr. Sakthivel requested Mr. Singh to consider the proposal of industrialists here asking the Centre to approach the Supreme Court for reopening of the dyeing units.

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