Islamabad. A Chinese delegation of National Textile and Apparel Council (CNTAC) called on Advisor to PM on Commerce, Textiles, Industries & Production and investment to deliberate upon bilateral trade and investment opportunities. CNTAC is the National Federation of all textile-related industries, as it includes the textile industrial associations and the other economic entities as the registered members. The Advisor underlined the significance of investment opportunities in textile sector for industrial development through mutual cooperation. He appreciated the role of Chinese Companies in textile sector of Pakistan and urged the Chinese delegation to have more extended cooperation in the textile sector.
Head of CNTAC delegation appreciated the Pakistan’s business friendly environment for better cooperation in industrial development, especially textile industry. He apprised the participant that China has already cooperated in manufacturing of polyester yarn in Pakistan and eyeing for extended mutual cooperation in finished/value added products of textile sector. The visit of CNTAC aims to observe the existing business environment for future investment in industrial development in Pakistan. Advisor emphasized to enhance know-how regarding Chinese technological advancement in textile sector and urged the delegation to cooperate in the development of textile sector to avail investment opportunities for developing better partnership. Members of the delegation showed interest in technology up gradation in Pakistan by investing in Textile Research Centers and Stitching Labs.
Advisor to PM apprised the delegation that China Pakistan Economic Corridor (CPEC) has opened enormous investment and business opportunities in Pakistan. In the first phase of the project investment was only attracted to power sector and infrastructure development.Now we are entering into second phase of CPEC, i.e. as industrial cooperation, which provides enormous opportunities for investment in textile and agriculture. Moreover, in the wake of China-Pakistan FTA Phase-II bilateral cooperation between two countries is widening by providing extended market access to Pakistani product in Chinese market which has increased industrial base of Pakistan, Advisor highlighted. Chinese companies should invest in whole value chain of textile, from cotton to garment, for the development of sector and both countries should work for win-win position.