Page 15 - October-November-2017

14 15
China-Pakistan FTA- Second New cotton varieties to

phase of negotiation boost economy

The 8th meeting of 2nd Phase negotiation of Pakistan had been raising this issue with the Chinese
China-Pakistan Free Trade Agreement (FTA) was held side time and again during the previous rounds without The All Pakistan Textile Mills Association (APTMA) All the new elected members and office bearers of
in Beijing the mid of September. The negotiation any consensus to address these concerns. It was in office bearers and the Executive Committee members the Executive Committees will take charge of their
concluded with a breakthrough which was at an this back drop, the Secretary Commerce decided to have been elected unopposed for 2017-18. office on 29th September 2017.This is the ninth
impasse over the last few rounds. The meeting was lead the negotiations with the Chinese Vice Minister as According to the official sources; Ali Pervaiz has been consecutive year of ruling group in the annual
co-chaired by Mohammad Younus Dagha, Secretary his counterpart. elected unopposed as Chairman APTMA Punjab for elections of APTMA. During the subsequent year, the
Commerce, Pakistan and Wang Shouwen, Vice 2017-18. Also, the whole executive committee of APTMA management and leadership has secured
Minister for Commerce, China. The information After two days of negotiations, Chinese side agreed to APTMA Punjab including Adil Bashir as Senior Vice Rs180 billion textile industry package from the
related to the negotiation was provided in an official address the major concerns of Pakistan side regarding Chairman, Aamir Sheikh as Vice Chairman, Shargeel government and presently working for its
press release. preference erosion for Pakistani exports and Khalid as Treasurer and Asad Kamal, Ashar Khurram, implementation in true letter and spirit.
meaningful market access during the 2nd phase. In Azhar Majeed, Faisal Shafi, Muhammad Siddique,
In the last seven rounds, Pakistan had been pleading this regard Pakistan shared a list around 70 high Zaeem Ahmed, Imran Ghafoor and Umair Umar have Expected is that the upcoming team will be able to
the case of restoration of its preference under the FTA priority items of its export interest for immediate market been elected as members unchallenged. take the industry ahead so far as the restoration of
which had been eroded due to subsequent FTAs of access, which the Chinese side agreed to consider the viability and growth in the exports related to textile
China. Younus Dagha pointed out that the preference favorably. These tariff lines constitute more than 80% of Syed Ali Ahsan, the outgoing Chairman APTMA is concerned. Speaking about the matter, Gohar Ejaz
on 79% of Pakistan’s exports to China had been Pakistan’s current exports to China. The meeting Punjab, congratulated the newly elected office expressed deep gratitude to Allah Almighty or
eroded. Pakistan has also been concerned over not ended with exchange of pleasantries and a resolve to bearers and members, wishing them successful bestowing upon his group the 9th consecutive win.
continue working together to make China Pakistan
having been able to get meaningful market access Free Trade Agreement a win-win proposition for both journey ahead. For the said positions, no other “The unopposed victory of my group is a clear
during the first phase of the FTA. the countries. contestant filed for the nominations against the six manifestation of the confidence reposed by the
empty seats from Punjab region for the Central
APTMA members on their leadership,” he said. The
Executive Committee CEC. Therefore, Gohar Ejaz, S. also gave best wished to the newly elected members
M. Tanveer, Ahsan Bashir, Tanvir Gulzar and Fazal are the central and zonal level, urging them to give
Ahmed Sh were selected from Punjab for the their best in the larger interest of the industry and
CEC APTMA. the association.
Chinese investors to invest

$300m Pakistan textile sector BCI 2017 Pakistan regional

members meeting

The Chinese businessmen have planned to invest Association (PRGMEA) Mr Ijaz Khokhar said.
about $300 million in Pakistan’s textile sector in joint
ventures with Pakistani companies for the The Chinese firms have huge opportunities in With an aim to deliver the latest updates on the Better Cotton globally and locally the BCI has planned a
promotion of the bilateral trading relation between distribution and joint venture with local potential meeting with regional members of Pakistan. The event is planned to be held on October 25 2017. The
the two countries. In this regard a Memorandum of industries and individuals from Pakistan, for meeting was planned to be held at the Pearl Continental Hotel, at Mall Road Lahore on October 25, while on
Understanding (MoUs) has already been signed increasing trade and investment cooperation October 26, 2017 following the meeting, the BCI members were planned be taken on a field trip.
between the Chinese firms and the Pakistani firms between business communities of both sides, he
with an aim to enhance the mutual cooperation and further added. Khokhar believed that the CPEC This meeting is thought to be a perfect opportunity for networking with fellow BCI members across the
the investment in different textile sectors including; would enhance the regional and global connectivity cotton supply chain, including ginners, cotton traders, spinners, fabric/garment mills, and retailers/brands.
fabric, accessories and importing modern for connecting the local market with the developed Further details about the event can be found at the website www.bettercotton.org.
machinery from Beijing for modernization and value economies. He also said that local industries are
addition in textile sector, the Chairman Pakistan fully prepared for grasping the trade and business
Readymade Garments Manufacturers and Exports opportunities after the completion of CPEC.

October/November 2017 October/November 2017