KARACHI: Chinese investors visiting from the Shenzhen province have shown deep interest in Pakistan’s textile sector including the desire to enter into deals with businessmen for the sale of goods and purchase of textile raw material.
Pakistan’s textile sector had a great opportunity to capture a good share in the international market, the Chinese said. Pakistani counterparts invited them to join them for value addition in the textile sector in Karachi.
“Pakistan is the fourth largest cotton producer with a vast agricultural base and cheap labour,” said Textile Associations Chairman and Patron-in-Chief of SITE Association of Industry (SAI) Muhammad Zubair Motiwala and SAI President Assad Nisar Barkhurdaria during an interactive session with the Chinese delegates at the SAI on Wednesday.
China Department of Commerce’s Deputy Director Zhang Shaoyun led the delegation, while China’s Consul Attache for Economics in Karachi Miranda Lee was also present. The delegates representing various Chinese textile companies exchanged information with their Pakistani counterparts and urged the need for further engagement aimed at promoting strong collaboration and joint ventures for mutual benefit.
Both the sides presented brief accounts of their businesses and identified the areas of engagement including import and export of textile items and raw material and avenues of joint ventures for expansion and upgrading of Pakistan’s textile industry.
Shaoyun said after some research and exchange of information both the countries would find opportunities for joint ventures, especially in the textile sector.
“Some Chinese companies are interested in selling goods, while some want to purchase raw material and some are interested in joint ventures in the future. All this will make China-Pakistan relationship further strong,” he said.
Chinese companies were already carrying out successful businesses in Pakistan and had invested a lot, especially in the construction sector, he said.
Motiwala invited the Chinese investors to enter into joint ventures with existing textile units in SITE, which had potential capacity for expansion and value addition.
Courtesy : Express Tribune