Page 4 - November/December-2019

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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
the second phase of a free trade a result, global production
Sub-Editor agreement comes into effect. decreased by 3% to 25.7 million
Mehwish Sheikh Pakistan had a duty-free export tonnes.
Shagufta Riaz agreement with the European
Ammar Sheish Union and in December, the SBS Systems for Business
Junaid Akhlaq second phase of a free trade Solutions organised a symposium
agreement (FTA) with China would for German textile machinery
Advisory Board: also become functional. producers and their Pakistani
Dr. Tanveer Hussain customers in collaboration with the
Dr. Muhammad Tausif Prime Minister’s Advisor for German Pakistan Chamber of
Commerce and Investment Abdul Commerce and Industry (GPCCI)
Marketing Manager Razak Dawood said that the Free and with technical support of the
Sana Sadiq Trade Agreement (FTA) with China VDMA Textile Machinery
Saeed Ahmed implemented by December, Association. The main objective of
Pakistan’s exports to China will this symposium was presentation
Layouts grow rapidly after FTA execution of products and services, B2B, and
Faizan Khan and would increase by US$500 networking. TEXtalks was the
million in the first year. He said that media partner of the event.
Circulation Incharge this was the start of the
Muhammad Shafique China-Pakistan Economic Corridor Fourteen German companies
(CPEC) and business-to-business comprised the delegation based
Address relations, which would grow rapidly. on their innovation and
C-302, City Towers technologically-advanced
Main Boulevard, Gulberg II Global stocks at the start of the specialties. These companies
Lahore-Pakistan 2018/19 season were 1% higher specialised in production
than the previous season at an technologies along the entire textile
Phone: + 92 42 35 788 700 estimated 18.7 million tonnes. At value chain from spinning, knitting,
Fax: + 92 42 35 788 700 84 cents per pound, the weaving, nonwovens and finishing.
international reference price of They visited Pakistan on a five-day
Email: info@textalks.com cotton was lower than the previous trip to Karachi and Lahore to
Skype: textalks season’s ending average of 88 establish a Pakistani-German
cents per pound. business dialogue. Five days of
www.textalks.com conferences, individual business
After a 99.5 cent per pound price meetings and institutional and
at the start of the season, prices technical visits highlighted their trip
fell throughout the year. Global and helped foster bilateral
area under cotton decreased by cooperation and exchange of
1% to 32.6 million hectares. Global views on innovations, technologies
yield decreased slightly by 2% to and business opportunities.

October/November 2019 October/November 2019