Envoy attracts Chinese investment in textile

Pakistan welcomes Chinese investment in its textile sector, said Khalil Hashmi, Pakistan's Ambassador to China, while highlighting the strategic advantages of injecting capital into the textile industry, which is called a pillar of the country's economy.

He was speaking at the Pakistan-China B2B Investment Meeting on Textiles held in Suzhou, China.

Organised by the Pakistani embassy, the consulate general in Shanghai and the Board of Investment (BOI), the event in Suzhou – a renowned hub for China's textile industry – was aimed at fostering joint ventures, trade and investment partnerships between leading Pakistani and Chinese textile and apparel enterprises.

On the occasion, the Textile One Window Network office under the Belt and Road Initiative (BRI) was also launched.

Eleven prominent Pakistani companies participated in the event, which engaged in discussions with 37 major Chinese companies on specific proposals and to explore avenues for future collaboration, China Economic Net (CEN) reported on Thursday.

"Pakistan offers global market access, longstanding expertise and a vertically integrated supply chain," he remarked. "With preferential access under the China-Pakistan Free Trade Agreement, the European Union's GSP Plus scheme and the UK's Developing Countries Trading Scheme, investing in Pakistan opens doors to some of the world's largest and most lucrative markets."

BOI Secretary Rahim Hayat Qureshi delivered a comprehensive presentation, outlining Pakistan's robust investment policies and facilitation mechanisms tailored for the textile sector.

He elaborated on a range of incentives, including streamlined regulatory processes, tax benefits and infrastructure support within the Special Economic Zones.

The event was part of a series of sector-specific initiatives undertaken on the directives of Prime Minister Shehbaz Sharif to strengthen the country's industrial base and enhance economic ties with China.