The All Pakistan Textile Mills Association (APTMA) has urged the US Ambassador to Pakistan Donald Blome to play his role in the early finalization of Pakistan – US Free as well as Preferential Trade Agreements (FTA/PTA) besides the promotion of US cotton linkages with Pakistan’s textile industry.
Mazhar Hussain Mirza, CCI Representative (Pakistan) gives a brief introduction on the scope of Cotton Council International. He also explains “How CCI is helping the textile industry in Pakistan by providing various services.” Mazhar Hussain Mirza has also mentioned the importance of the future trade of cotton due to the shortage of cotton in Pakistan, the textile industry is looking forward to buying approximately 5 million bales in near future.
Donald Blome, U.S. Ambassador said, “I am overwhelmed with the response from the textile industrialists and appreciated the efforts of the close relationship of CCI with textile mills in Pakistan.”
Dr. Gohar Ijaz also appreciated CCI services and determination towards promoting the US Cotton in Pakistan textile industry and offered to work more closely to maintain a long-lasting relationship with CCI by working together as partners in promotional activities.
Chairman APTMA North Zone, Hamid Zaman said both the countries have huge potential to work together. He appreciated the positive approach of the US ambassador and expressed the hope that he would play his role in building up bilateral trade and investment relations between the two countries.
He responded to the concerns raised by one former chairman of the Association, Aamir Fayyaz that the US retailers were avoiding opening up their buying houses in Pakistan and highlighted the issues confronting the expansion of trade and investment relations, and expressed the hope for a change in the situation with further improvement in the security situation of Pakistan. He further desired the government to overcome issues confronting the US investment in Pakistan.
Both sides opened their hearts and spoke at length about the revival of bilateral trade relations, particularly in the field of apparel and textile.
US Ambassador, Blome acknowledged the enormous potential to work together in the field of cotton and textile and proposed the APTMA leadership focus on continuing engagements and dialogue with their American counterparts.
While admitting quite candidly that Pakistan was the most cost-competitive in the region, Blome stressed addressing the issues related to taxation, repatriation of profits, the unpredictability of policies, the legal system, etc.
Senior Vice Chairman APTMA, Kamran Arshad made a detailed presentation about the strength of the textile industry in Pakistan. He said the US is Pakistan’s largest trade partner with a total bilateral trade of US$ 9.85 billion in 2021-22. According to him, total exports of Pakistan to the US stood at $6.8 billion against total imports of $3.0 billion from the US. The USA is the largest source of foreign direct investment in Pakistan coupled with remittance of US$ 3.1 billion from the USA to Pakistan, he added.
