According to the China Chamber of Commerce for Import and Export of Textiles (CCCT) statement, China is interested in strengthening investment cooperation with Pakistan in the textile and garment industry. As a significant garment producer, Pakistan’s export of home textiles, clothing, and other processed products to the European Union, the United States, and other countries and regions has witnessed a rapid growth these years, which has also driven rapid growth in yarn and fabric imports from China, promoting the cooperation between China and Pakistan in the industrial chain.
Zhang Xian, CCCT Vice President, said, “China is willing to strengthen investment cooperation with Pakistan in the textile and garment industry. Collaboration and competition coexist for both countries’ textile industry, and Sino-Pak co-op in the textile industry is ‘untapped.’ Pakistan and China are perfect partners, and there is a lot that can be done.”
According to Pakistani customs statistics, Pakistan’s imports of textiles and apparel from China account for 62% of its total imports, making China its most significant textile and garment imports source. As per statistics released by the General Administration of Customs of China, the country’s imports from Pakistan are mainly cotton yarn. Pakistan ranks third among China’s import sources of cotton yarn.
Pakistan recorded a nearly 70% increase in exports to China in the first quarter of 2021. Pakistan is already enjoying zero duties on exports of 724 products to China under the first free trade pact signed between the two countries in 2006. After implementing the second pact, Pakistan has been allowed to export more than 1,000 products to China with zero duties. The new facility is particularly benefiting the agriculture, leather, confectionary items, and biscuits product sectors.
Pakistan and China are true friends. The noble act of supporting the textile sector of Pakistan could reduce the current inflammation from the country, and exports could increase significantly. Pakistan’s textile sector should also capitalize on this opportunity and include China in its preferred export list.
