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China shows keen interest in

Turkish textile goods

Recently, China seems to be showing great interest Turkey exporters will participate in the annual
in Turkish textile goods. Exporters from Canton Import – Export fair.
southwestern Turkey's Denizli, which accounts for
almost $1.5 billion in the country's total $3.5 billion Mr Hüseyin Memişoğlu, Chairman of Denizli
annual home textile exports, have turned toward Exporters' Association said, “The number of people
alternative markets. in China's high-income group is more than double
than that of our country. There are quality products
Under the Turn-quality project, exporters are in that country, but there is a common perception
that wealthy people buy European goods. We are a
carrying out a campaign for branding called European country. For this reason, it is very likely
“Turkish Towels”. Denizli main exports are to US and that Turkish products will find a good market there.
Europe but to China its textile exports have soared This is an important perception, many well-known
to $11.73 million. global brands have stores in China. We can easily
find a market there if we open warehouses, stores
For the promotion of Turkish products in China, and brands.”

Textile division appeals to

US China trade war revive Pakistan Textile

impact on Hong Kong City Limited

Pakistan textile division is urging caretaker Minister for Commerce and Textile to undo the former
US has imposed tariffs on US$250 billion worth of the time it completes an investigation or yields any government decision regarding winding up of Pakistan Textile City Limited. The approval from
Chinese goods. After the first wave of US 25% tariffs findings, the damage will have been done.” concerned Board of Directors to change the company management and present a fresh
on US$34 billion worth of Chinese good, China in comprehensive yet viable business as well as financial plan to cater to the payback of loans and
retaliation imposed tariffs on the same amount of Impact on Hong Kong Businesses liabilities to provide a successful way forward to the textile industry.
American goods. Also pending approval, President US$34 billion worth of Chinese products, the Hong
Donald Trump has revealed additional 10% levy on Kong government said about 17% or US$7.6 billion Other countries have successfully enhanced their exports by investing in infrastructural
US$200 billion worth of Chinese goods. worth of Chinese exports in question passed developments for the textile sector which is pre-requisite to attract foreign and local investment. India
through the city to the US, and about 9% of US and Bangladesh have established 66 and 46 economic zones respectively, whereas
Hong Kong, China’s biggest trade partner, serving exports came via the city on the way to mainland Pakistan has only 8.
as a re-export hub between the two nations is China. The exports in question accounted for 1.4
sandwiched between the two sides. per cent of Hong Kong’s overall trade. Hence, tariffs In 2018 the price of PTCL land has increased to Rs 8.1 million per acre from Rs 0.794 million per acre
on goods worth US$200 billion worth of Chinese and the total PTCL land is 1250 acre.
Dr Billy Mak Sui-choi, Baptist University economist goods will hit Hong Kong economy harder. The 25%
said, “Even if Hong Kong complains to the WTO, by tariffs will increase the cost of businesses. In the argument presented to the caretaker Prime Minister the Textile Division said, “No alternate land
is available in vicinity of Port Qasim area which is more suitable for textile exportable surplus to cater
to future requirements of a multifarious economic zone. Pakistan is facing alarming trade deficit. This
initiative will contribute to increasing textile exports resultantly decreasing trade deficit.”

May/June 2018 April/May 2018