Economy and Trade Minister Naftali Bennett..
(photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)
The Economy Ministry released a statement on Tuesday saying that it will expand import quotas for fabrics and finished bed linen products from Pakistan and Bangladesh. Economy Minister Naftali Bennett stated that the policy will ultimately lower prices for Israeli consumers by encouraging wider competition.
The import of textiles from the two countries is subject to quota limits and license requirements by the Economy Ministry.
Director of the Economy Ministry Amit Lang explained the policy's intentions: "This process is designed to support and encourage local manufacturers and importers [of raw textiles] together, promoting competition and innovation in the industry. On the one hand, local manufacturers will be able to import the raw fabrics used for bedding and linen while retailers will be able to diversify their procurement of finished goods following the removal of import barriers...from those countries. This will encourage competitiveness from domestic producers and simultaneously increase the competition between local production and the importers themselves."
"We hope that the move will bring about change in the cost, the quality and variety," said Lang.