Mr Adil Bashir, Punjab Chairman APTMA has recommended a way forward to the Chinese textile industry associations, showing an interest to carry out Joint Ventures with the textile industry in Pakistan.
He aforesaid a special line of credit from China can be arranged for new investment and forming joint ventures with Chinese firms under pay as you earn scheme on buying back basis to encourage investment and bilateral trade. He has further offered the identification of prospective investors from Pakistan for matchmaking by industry associations and exchange of data and latest developments by respective associations besides opening up of one widow facility for prospective investors and video connected forum for overcoming language/travel barriers.
Sharing his views with a Chinese delegation representing sub-council of textile industry CCPIT and work office of International Trade of China Natioanl Textile and Apparel Council (CNTAC), Chairman APTMA Punjab briefed the delegation concerning the growth opportunities within the textile industry of Pakistan and also the government efforts to make the textile industry viable besides the formation of special economic zones and a garment city.
He informed the delegation that a decent number of closed textile units in Pakistan with plug and play facility were available where Chinese entrepreneurs have extensive chance to start joint ventures.
APTMA Punjab chief whilst highlighting the opportunities for Chinese investors in Pakistan, said the initiatives like CPEC investment corridor, regional textile production-consumption hub, PTA/FTA with China and Turkey, availability of EU GSP+ facility up to 2023 and growing domestic market are golden opportunities of investment and joint ventures in Pakistan’s textile industry.
He also briefed the delegation about the textile industry structure in Pakistan, market strength, investment policy of Pakistan, setting up of Special Economic Zones, and prospective areas for joint ventures.
The Chinese delegation consisted of China National Textile & Apparel Council, China Dyeing and Printing Association, The Sub-Council of Textile Industry, Jiangsu Province Textile Industry Association, Jiangsu Garment Association, Qingdao Phoenix Printing & Dyeing Co. Ltd, Jiangsu Haoye Fibre Technology Co. Ltd, Wujiang Shengwei Bauhinia Textile Co. Ltd and The Sub-Council of Textile Industry, CCPIT.
Head of the Chinese delegation Mr Xu Yingxin and other members showed their interest in the APTMA proposals, saying that a Memorandum of Understanding can be signed between APTMA and CNTC to ensure a large scale investment in Pakistan’s textile industry and also invited APTMA delegation to an investment conference in China in March 2019.