If you are thinking that the Pakistani textile market is at a critical edge of devastation, you are wrong. There is much more than the CEPC- bringing challenges to the Pakistani textile industry and this is showcased by the booming textile and clothing sector of Pakistan.
According to Zubair Tufail, President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Pakistani products enter the country purely on the basis of market strength, therefore, there was no question of any negative development. Further added was that; “Why would anyone like to shift or divert imports when they are getting quality goods at a competitive price from Pakistan. “He also said that; “I feel Pakistani exports to the US would actually increase in the coming days.”
On the other hand, the former chairman of All Pakistan Textile Mills Association (Aptma) Yasin Siddiqui said that if we consider the trade relations with the United States, there can be either positive or negative impact; this would be dependent on the trade policies of the new administration. He further added that there can be a new era of liberalism or there would be chaotic conditions the world over.
Mr. Siddiqui argued that; with Nafta and TPP on the rocks and the future of World Trade Organisation being uncertain, imports and exports will be left totally at the mercy of market forces for which Pakistan is well placed as far as trade with the US is concerned. He further elaborated that; in 2015-16, Pakistan’s total exports to the US stood at $3.5bn which came to around 16.84pc of total Pakistani exports. The textile exports to the US were at $2.9bn in the same year.
While concluding, Mr. Siddiqui said that; “If you look at these figures, 23.36pc of total textile exports worth $12.456bn go to the US. And this happens without any preferential treatment. There is nothing to fear.”
