Chinese Consulate General and All Pakistan Textile Mills Association (APTMA) leadership have resolved to upsurge bilateral trade, take maximum advantage of Free Trade Agreement (FTA) and to explore possibilities of joint ventures in textile industry.
Mr. Zhao Shiren Consul General of China, Mr. Li Haoteng, Commercial Counsellor and Mr. Wang Yaqiang, Vice Consul visited APTMA on Tuesday and discussed in detail prospects, ways and means to swell volume of trade and joint ventures in textile industry.
Dr. Gohar Ejaz, Patron-in-Chief APTMA and Chairman APTMA Mr. Kamran Arshad welcomed the Chinese Consul General at APTMA. They were accompanied by Syed Ali Ahsan, former Chairman APTMA, Zonal Management Committee members including Mr. Haroon Ellahi, Mr. Muhammad Ali, Mr. Faisal Jawed, Mr. Ahsan Shahid, Mr. Ismail Fareed, Mr. Habib Anwar, leading textile exporters, Secretary General APTMA Mr. Shahid Sattar and Secretary General North Mr. Mohammad Raza Baqir.
Speaking on the occasion, Mr. Zhao Shiren said both China and Pakistan enjoy strong economic and cultural relations and China Pakistan Economic Corridor (CPEC) is an example of this robust relationship between both the countries. He highly appreciated the role of APTMA in general and of Dr. Gohar Ejaz in particular in expansion of bilateral economic relations. Consul General enumerated highly plausible services rendered by Dr. Gohar Ejaz in cementing relation between Chian and Pakistan not only as Commerce Minister but also in his private capacity. He also spoke volume about community and welfare services being performed by Gohar Ejaz Foundation for poverty alleviation, medical services, educational and research uplift and industrialization of the country.
Consul General highlighted expansion of bilateral trade since the signing of China-Pakistan Free Trade Agreement (FTA) in 2006 and resolved to further uplift the said volume by taking maximum benefits from FTA. He noted that balance of trade is presently in favour of China and assured of his help to not only expand trade volume but also to bridge the gap in balance of trade. He informed that textile goods falling in more than 800 HS tariff lines of customs chapters 50 to 63 enjoy duty free status under FTA on import into China from Pakistan. He emphasized Pakistani textile industry to avail duty free regime widely liberalized for Pakistani textile products since implementation of Phase II of FTA in 2020. He offered all assistance from the Consulate General for ease in issuing of visas, exchange of delegations and holding of trade exhibitions.
He also appreciated the investment-friendly environment in Pakistan and said that Chinese entrepreneurs are taking keen interest in enhancing business relationships with their Pakistani counterparts. He welcomed the idea of textile delegation to China for business dialogue with their Chinese counterparts and hoped that exchange of such delegations will tremendously boost trade and economic relation.
Dr. Gohar Ejaz, speaking on the occasion, highlighted deep and intimated China-Pakistan relations not only on diplomatic front but also in all spheres of life including economy, strategy and development. He said that with lowering of energy prices, taxation reforms and low wages, Pakistan offers an ideal place to Chinese investors for joint ventures and offered to take 10 members Pakistan textile delegation to Chaine for business to business meetings.
Gohar said that 1000 acres industrial estate is being developed in private sector in Lahore in addition to industrial estates being setup in public sector offering plug and play facilities to Chinese partners in the field of garments. He hoped that these partnerships would not only yield enormous profits to Chinese investors but would also contribute to uplifting of Pakistan’s share from the existing $18 billion to $100billion in the total global textile market of $900 billon. Gohar said that it is high time to strengthen B to B relations between both China and Pakistan. He said that economic thinktank has recently been established in private sector which would also contribute to consolidation of bilateral economic ties.
Earlier Chairman APTMA Mr. Kamran Arshad made a detailed presentation to the Consul General on textile industry of Pakistan and the prospects of mutual cooperation in textile sector.
Highlighting the preferential investment incentives, he said Special Economic Zones (SEZ) in different parts of Pakistan, especially under CPEC, are being offered for investment.
Mr. Kamran Arshad explained duty and tax exemption regime on import of plant, machinery and raw materials on investment made in SEZs.
Describing the significance of textile industry, Kamran said Pakistan is one of the few countries with a complete textile value chain starting from ginning, spinning, weaving, processing and garmenting.
Kamran talking about the hike in US tariff, offered Chinese entrepreneurs to shift their businesses to Pakistan in the proposed garment cities with Plug and Play facilities to avail lower US tariff on goods originating from Pakistan. He also referred to the recent request sent by the Punjab government to Mr. Zhang Xinmin, Chairman, China Chamber of Commerce for Import & Export of Textiles, Beijing, China for joint venture in textile and solicited support of Consulate General and the Embassy in following-up the progress on the said letter.
