During a meeting with China’s Chamber of Commerce for Import and Export of Textiles and leading Chinese textile companies and investors, Minister for Planning, Development, and Special Initiatives Asad Umar said that Pakistan offered the Chinese investors considerable opportunities to develop a deeper understanding of the investment opportunities in the textile sector.
A detailed presentation on the textile sector of Pakistan was given to Chinese entrepreneurs and investors wherein various aspects of comparative advantages of Pakistan were explained in detail. The presentation included comparative data of the region for transportation, labor, utilities, and other costs for the investors. It also highlighted the favorable market access situation for its products in foreign markets. The facilities and incentives available to investors in CPEC SEZs were also discussed in detail.
Special Assistant to the Prime Minister on CPEC Affairs Khalid Mansoor and some textile investors in Pakistan participated in the event organized by the China Pakistan Economic Corridor (CPEC) Authority. The embassy of China in Islamabad and Pakistan’s Embassy in Beijing also joined the session. Representatives of many large Chinese textile companies participated in the session. Other participants also spoke during the event and highlighted various aspects of the textile sector of Pakistan.
Earlier last month, China showed interest 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. Hopefully, the recent meeting could open many ventures for Pakistani textile products.
