China, Pakistan to tap new cooperation in textile industry

Author: APP

The Vice President of China Chamber of Commerce for Import and Export of Textiles (CCCT) Zhang Xinmin held talks with Minister for Commerce and Industry, Dr Gohar Ejaz here.

They discussed China-Pakistan textile and garment investment and trade, the development of Pakistan’s textile industry, and the promotion of cooperation between the two sectors.

Pakistan’s textile sector is often referred to as the backbone of its economy and employs 40-45% of its total labour force.

During the meeting, Zhang mentioned that the textile and garment industry chains of China and Pakistan are highly complementary, and the two countries have great potential for cooperation in the cotton industry and trade, China Economic Net (CEN) reported on Wednesday.

“At present, the global supply chain pattern is undergoing significant changes. China and Pakistan can seize this opportunity to collaborate on organizing professional textile and garment exhibitions, trade and investment forums, business matchmaking activities, and entrepreneurial delegation exchanges,” added Zhang. Gohar Ejaz stated that the textile industry accounts for over 60% of Pakistan’s total exports and holds great significance for the country’s economic development. Pakistan offers a superior investment environment and unique advantages in terms of natural resources, manpower, location, market access, infrastructure, and government incentives.

“The Pakistani government places great importance on promoting cooperation and development in the textile industry between Pakistan and China. It has established a special investment promotion committee headed by the Caretaker Prime Minister to provide strong support for overseas investors looking to invest in Pakistan,” said Gohar.

It’s notable that Pakistan’s Export Advisory Council held its inaugural meeting under the chairmanship of Gohar last Friday.

According to the meeting, Pakistan aims to boost its exports to USD 50 billion within five years by enhancing its textile sector and organizing a major expo to promote related products.