Pakistan aims to enhance textile exports to China, says FPCCI Chairman
Published on: January 11, 2024.
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January 08, 2024: Chairman of the Federation Pakistan Chamber of Commerce and Industry (FPCCI) Capital Office, Karim Aziz Malik, recently conveyed his optimism regarding the significant potential for boosting Pakistan’s textile exports to China during a meeting with a delegation of Chinese investors. This encouraging development was highlighted in a press release issued today.
Currently, most of Pakistan’s textile products are exported to Europe and America. However, the textile industry is now aiming to enhance its presence in the Chinese market, presenting an exciting opportunity for growth and expansion.
Karim Aziz Malik assured Chinese investors of lucrative returns on their investments in Pakistan, emphasizing the favorable incentives and liberal policies available for both foreign and local investors across various sectors of the economy. By connecting Chinese investors with the right partners for joint ventures in Pakistan, the FPCCI aims to facilitate profitable business opportunities for all parties involved.
The delegation of Chinese investors, led by Zhang Yang, Director Chongjiang Federation of Investment and Commerce and Chairman of Chang Jiang Management Company, visited the FPCCI Capital Office to explore potential collaborations.
Notably, Pakistan offers attractive incentives in special schemes, as well as in traditional and non-traditional sectors of the economy. These incentives provide great opportunities for the business community to invest in the country and maximize their profits.
During the meeting, Karim Aziz Malik briefed the delegation on Pakistan’s top exportable items, which include textile made-up, cotton, knitted and non-knitted apparel, rice, pink salt, plastic articles, leather articles, automobiles, mining, gemstones, and many others. Particularly, Pakistan holds the title of being the world’s 10th largest producer of rice, with its exports making up more than 8% of the global rice trade. Pakistan’s export of broken rice to China has also seen a significant increase.
Another notable export item is pink salt, of which Pakistan is the world’s sole producer. The global market for pink salt is approximately $12 billion, presenting immense opportunities for investment and joint ventures.
Karim Aziz Malik extended an invitation to Chinese investors to explore the emerging and fast-growing sector of Pink Salt for potential investments and joint ventures.
In addition, the upcoming cherry season in Gilgit Baltistan holds promise for trade between China and Pakistan. Visiting Chinese delegations have already shown keen interest in importing cherries from Pakistan, signifying the potential for increased bilateral trade in this area.
Ashfaq Ahmed, Vice President FPCCI, underscored the importance of business interaction, trade expansion, and joint venture investments between Pakistan and China. He emphasized that future collaborations between the two countries would largely depend on the active participation of their private sector enterprises, and called on both governments to facilitate and promote bilateral trade and investment.
Malik Sohail Hussain, Chairman of Coordination FPCCI Capital Office, provided insights into the various business opportunities and investment potential across different sectors of Pakistan’s economy. He expressed optimism about the prospects of cooperation between Pakistan and China, highlighting the encouraging trend of Chinese companies investing in Pakistan and contributing to its economic development.
To further strengthen trade relations, frequent exchange of trade delegations between the two countries is essential. This will enable the private sectors of both countries to come together, exchange views, share experiences, and explore possibilities of setting up joint ventures in potential areas of cooperation.
Speaking at the meeting, Zhang Yang, Director of CFIC and Chairman of Chang Jiang Management, praised the attractive policies in Pakistan that provide numerous investment opportunities for Chinese investors. He noted that various Chinese companies are already operating in Pakistan across various fields.
Both Pakistan and China are committed to further enhancing their trade relations, and they anticipate substantial growth in bilateral trade in the future.
In this era of challenges and changes, cooperation and active collaboration between Pakistan and China prove to be crucial. The FPCCI’s efforts to bring Chinese investors and Pakistani partners together for mutually beneficial ventures will contribute to the economic growth and prosperity of both countries.
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