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Pakistan's Punjab inks MoU with CNTAC for garment zone
Aug '13
courtesy: The Nation
courtesy: The Nation
The government of Pakistan’s Punjab province has signed a memorandum of understanding (MoU) with the China National Textile and Apparel Council (CNTAC) for establishing a special garment zone in the province.
As per the MoU, Chinese investors will invest in the Punjab-China Garments Industrial Zone, where garment and knitting units would be set up.
The China Knitting Industry Association and the Punjab Industrial Estate Development and Management Company will extend cooperation for the promotion of the garments and knitting industry, The Nation reported.
Punjab Chief Minister Shahbaz Sharif, who was present during the signing ceremony, said the special zone would be established soon and it would help resolve unemployment issue, while strengthening the economy of Pakistan.
Mr. Sharif said there are vast opportunities for investment in Pakistan’s garment sector. He added that the establishment of the special garment zone would help Pakistani youth to benefit from the Chinese expertise in the textile sector.
He assured all possible facilities to the Chinese investors investing in the industrial zone.
CNTAC vice president Gao Yang said he would urge Chinese companies to invest in special garment zone in Punjab.

Fibre2fashion News Desk - India

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