Daily Times

ISLAMABAD: Foreign investors did not take interest in the TEXPO 2016 because they felt that prices of the textile products put on display there were high.

The Trade Development Authority of Pakistan (TDAP) has arranged an exhibition in Karachi to promote the textile industry and explore new markets for Pakistani products. Several foreign trade delegations participated in the exhibition. Daily Times talked to some foreign investors at the TEXPO and they showed a lack of interest in the exhibition. They said they wanted to pay for the Pakistani textile products according to their quality.

Azad Dookhit and Gurpareet Singh Anand from India said that textile products of Pakistan had a huge market the world over, but the TEXPO failed to attract the foreign investors due to high prices of products.

“Pakistani manufacturers should enhance the quality of their products,” said an Indian guest. He said that India could be a big market for Pakistani textile exporters.

Muhammad Tayyab, director of the Stuff International, a manufacturer and exporter of towels, said that high prices of textile products were due to the taxes imposed by the government on the textile sector. Moreover, he said, the government had stopped refund of Rs300 billion to exporters and this made the textile industry suffer.

A delegate from Mauritius appreciated the TDAP for holding TEXPO and said there was a need to increase trade volume between Pakistan and Mauritius. He said that a Free Trade Agreement had been signed between the two countries, but the investors of both countries did not take any measures to increase bilateral trade.

TDAP Chairman SM Munir said the government was keen to introduce textile products of Pakistan in other countries. The quality and price of the Pakistani textile products was comparatively better. Now steps are being taken to boost trade with all countries, he said.

About 450 businessmen from 60 countries have been invited to TEXPO. About 230 companies from textile sector and some famous brands have displayed their products at the exhibition.