Investments are crucial for the industrial development of the textile sector. Mr Abdul Razak Dawood, PM advisor on Commerce in a meeting with a Chinese delegation of CNTAC (National Textile and Apparel Council) urged the delegation for cooperation in this regard. Bilateral trade and investment opportunities were discussed.
CNTAC appraised Pakistan’s business friendly environment for better cooperation in industrial development especially the textile sector. The CNTAC delegation head further informed that China has already cooperated in polyester yarn manufacturing in Pakistan and is looking forward to further cooperation in the manufacturing of finished/value added products.
The aim of the delegation was to examine the existing business environment for future investment in industrial development in Pakistan.
Mr Dawood emphasized the need for enhancing know-how of Chinese technological advancement in the textile sector and urged the delegation to cooperate in the sector’s development. The delegation expressed interest in technology upgrade in Pakistan by investing in textile research centres and stitching labs.
Mr Dawood said that after the China Pakistan FTA Phase-II, the cooperation level is widening between both countries because of the grant of extended access for Pakistani products to the Chinese market.