The Chinese businessmen have planned to invest about $300 million in Pakistan’s textile sector in joint ventures with Pakistani companies for the promotion of the bilateral trading relation between the two countries.
“In this regard a Memorandum of Understanding (MoUs) has already been signed between the Chinese firms and the Pakistani firms with an aim to enhance the mutual cooperation and the investment in different textile sectors including; fabric, accessories and importing modern machinery from Beijing for modernization and value addition in textile sector, the Chairman Pakistan Readymade Garments Manufacturers and Exports Association (PRGMEA) and leader of All Pakistan Textile Mills Associations (APTMA),” said Mr Ijaz Khokhar on 19th of September.
The Chinese firms have huge opportunity in distribution and joint venture with local potential industries and individuals for increasing trade and investment cooperation between business communities of both sides, he further added. The APTMA leader stated that the mega project of China Pakistan Economic Corridor would increase the economic and investment opportunities for the promotion of regional trade.
Khokhar believed that the CPEC would enhance the regional and global connectivity for connecting the local market and the developed economies. He said that local industries are fully prepared for grasping the trade and business opportunities after the completion of CPEC.