Page 5 - April-May-2020

28 05

Pak-China: Free Trade Agreement-II;

rollercoaster cotton prices, with

decreasing production, area and
Editor-in-Chief
Yousaf Fareed yields; VDMA Symposium

Editor Pakistan has voiced hope that its 790 kg/ha but remained above the
Hassan Saeed trade with China will increase after ten-year average of 776 kg/ha. As
TEXPO 2019 brings in $600m Sub-Editor the second phase of a free trade a result, global production
agreement comes into effect.
decreased by 3% to 25.7 million
Mehwish Sheikh
Pakistan had a duty-free export
tonnes.
trade, says Federal Commerce Secretary Shagufta Riaz agreement with the European SBS Systems for Business
Ammar Sheish
Union and in December, the
Junaid Akhlaq
second phase of a free trade
Solutions organised a symposium
Advisory Board: agreement (FTA) with China would for German textile machinery
producers and their Pakistani
also become functional.
Pakistan’s biggest textile exhibition at government on display. Leading fashion designers/textile houses and Dr. Tanveer Hussain customers in collaboration with the
level, TEXPO-2019, has not only proved instrumental retail brands showcased their latest collections also. Dr. Muhammad Tausif Prime Minister’s Advisor for German Pakistan Chamber of
in further highlighting Pakistan’s soft image to the Commerce and Investment Abdul Commerce and Industry (GPCCI)
world but also attracted initially US$600 million trade He said that special initiative of bi-annual event of Marketing Manager Razak Dawood said that the Free and with technical support of the
through export orders by foreign buyers. Federal TEXPO had been taken by the Trade Development Sana Sadiq Trade Agreement (FTA) with China VDMA Textile Machinery
Commerce Secretary Mr Ahmed Nawaz Sukhera Authority of Pakistan (TDAP) with prime objective of Saeed Ahmed implemented by December, Association. The main objective of
claimed this at the end of four-day 2nd Edition of enhancing country’s exports through comprehensive Pakistan’s exports to China will this symposium was presentation
TEXPO at Expo Centre. display of diverse Pakistani textile and clothing Layouts grow rapidly after FTA execution of products and services, B2B, and
products. Faizan Khan and would increase by US$500 networking. TEXtalks was the
It was inaugurated by Mr. Abdul Razak Dawood, million in the first year. He said that media partner of the event.
Adviser to PM for Commerce, Textile, Industry and Foreign delegations also visited historic and cultural Circulation Incharge this was the start of the
Production at Expo Center (Lahore). places of Lahore and all of them liked Pakistan and Muhammad Shafique China-Pakistan Economic Corridor Fourteen German companies
Pakistani products. They termed Pakistanis (CPEC) and business-to-business comprised the delegation based
Mr Sukhera said that 363 foreign buyers from more peace-loving and Pakistan a great place for trade Address relations, which would grow rapidly. on their innovation and
than 50 countries participated in the TEXPO-2019 and investment, added Mr Sukhera. C-302, City Towers technologically-advanced
and placed their orders. So far, he added, trade Main Boulevard, Gulberg II Global stocks at the start of the specialties. These companies
agreements worth US$600 million had been signed The TEXPO-2019 also featured a Trade Envoys’ Lahore-Pakistan 2018/19 season were 1% higher specialised in production
and the process would continue. Conference on the last day where the stakeholders than the previous season at an technologies along the entire textile
from trade and industry and the government Phone: + 92 42 35 788 700 estimated 18.7 million tonnes. At value chain from spinning, knitting,
He said foreign buyers also inked 10 memorandums exchanged their opinions. Fax: + 92 42 35 788 700 84 cents per pound, the weaving, nonwovens and finishing.
of understanding (MoUs) with local export houses, international reference price of They visited Pakistan on a five-day
besides visiting field and industrial units in Lahore, The TDAP also organised a two-day seminar, Email: info@textalks.com cotton was lower than the previous trip to Karachi and Lahore to
Sialkot and Faisalabad. He added, “More than 5,000 attended by leading exporters from various sectors. Skype: textalks season’s ending average of 88 establish a Pakistani-German
business-to-business (B2B) meetings were also held Syed Iftikhar Hussain Babar, Federal Secretary Textile cents per pound. business dialogue. Five days of
on the sidelines of TEXPO-2019, which will definitely and Industry, Ms. Aliya Hamza Malik, Parliamentary www.textalks.com conferences, individual business
help boost country’s textile and its related exports”. Secretary, Capt. (Retd) Javed Akbar, Additional After a 99.5 cent per pound price meetings and institutional and
Secretary, Ministry of Commerce and Textile, Mr. at the start of the season, prices technical visits highlighted their trip
The secretary said that delegations from various Muhammad Sualeh Ahmed Faruqui, Secretary TDAP, fell throughout the year. Global and helped foster bilateral
countries including Russia, Bahrain, USA, China, Engr. Daroo Khan Achakzai, President FPCCI, Mr. area under cotton decreased by cooperation and exchange of
Japan, UK, Germany, Saudi Arabia, Czechoslovakia, Khuwaja Shahzad, SVP Lahore Chamber of 1% to 32.6 million hectares. Global views on innovations, technologies
Nigeria, France, Netherlands and Spain actively took Commerce & Industry, Ms. Shireen Arshad Khan, yield decreased slightly by 2% to and business opportunities.
part in the TEXPO. Around 231 exhibitors including Vice President FPCCI were also present on
new entrants from across Pakistan put their products the occasion.

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