LAHORE: A textile manufacturers’ delegation would visit China by the end of February to explore investment opportunities.
Pakistan’s top ten leading textile manufacturers will spend five days in China, where they would meet the local business community as well as China’s textile minister.
An official of the Pak-China Joint Chambers of Commerce and Industries (PCJCCI) informed this scribe that the chamber had arranged the visit of textile businessmen.
He claimed Pakistan’s textile sector was not striving hard enough to increase its exports, whereas there were a lot of opportunities for textile exporters to exploit the Chinese market during the upcoming visit.
He said the Chinese industries were facing a higher labour cost owing to advanced skills and experience. “So they (industries) want to get rid of the primary and secondary manufacturing line and focus on tertiary products.”
The PCJCCI official informed China has opened its doors for Pakistan, adding that a large number of textile companies in China wanted to shift their orders to Pakistan.
On the other hand, PCJCCI Secretary-General Salahuddin Hanif told this scribe that the chamber’s mission was to adopt measures that could boost bilateral trade between Pakistan and China.
“PCJCCI is endeavouring to identify and eradicate the potential deterrents in the expansion of trade and investment opportunities between two countries,” he maintained.
Hanif said the purpose of the said visit to China was to explore the Chinese market. Although the visit is not formal in nature, we are expecting a huge volume of textile exports to China, he added.
“We are also introducing our industry in China, besides trying to resolve issues that Pakistani textile exporters usually face.”
Referring to the textile exports’ statistics issued by the Pakistan Bureau of Statistics (PBS), the PCJCCI office-bearer said that the textile sector exports stood at $5.76 billion in the first five months (July-November) of FY20, up 4.68 per cent compared with $5.5 billion in the corresponding period of last year.