Dawood seeks investment in textile

Urges Chinese team to cooperate in development of industry

ISLAMABAD: Prime Minister Adviser on Commerce Abdul Razak Dawood has underlined the significance of investment opportunities in the textile sector for industrial development.

In a meeting with a Chinese delegation of the National Textile and Apparel Council (CNTAC) on Tuesday, he urged the delegation to extend its cooperation in the textile sector. The two sides discussed bilateral trade and investment opportunities.

CNTAC delegation head appreciated Pakistan’s business-friendly environment for better cooperation in industrial development, especially in the textile industry. He apprised meeting participants that China had already cooperated in the manufacturing of polyester yarn in Pakistan and was eyeing extended cooperation in manufacturing finished/value-added products in the textile sector.

Textile sector reforms for whom?

The aim of the delegation was to examine the existing business environment for future investment in industrial development in Pakistan.

Dawood emphasised the need for enhancing know-how of Chinese technological advancement in the textile sector and urged the delegation to cooperate in the sector’s development. The delegation expressed interest in technology upgrade in Pakistan by investing in textile research centres and stitching labs.

The adviser said that CPEC had opened huge investment opportunities in Pakistan. Moreover, in the wake of the China-Pakistan FTA Phase-II, cooperation between the two countries was widening due to the grant of extended access for Pakistani products to the Chinese market.

Published in The Express Tribune, July 3^rd, 2019.

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