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APTMA explores joint business ventures in China
18
Jan '16
Commerce ministry officials of China's eastern port city of Weihai and the All Pakistan Textile Mills Association (APTMA) have signed a Memorandum of Understanding to explore the potential of joint ventures and investment opportunities in textile sector of the two nations during the visit of a 20-members Chinese delegation to Pakistan's Punjab province last week.

Welcoming the Chinese delegation headed by Ms Zhang Buwen of Shandog Hushan Group, Chairman APTMA Punjab Aamir Fayyaz highlighted the significance, structure, strength and sustainability of the textile industry in Pakistan.

He said there exists great potential for foreign investment in Pakistan's textile industry as it enjoys the GSP (Generalised System of preferences) plus market access to the European Union (EU). Conversion of basic textiles into clothing carries a potential of $15 billion increase in exports from Pakistan, he added.

He expressed the hope that the under construction China-Pakistan Economic corridor will further enhance trade and bilateral relations between the two countries.

Fayyaz also proposed that APTMA could act as focal organisation to facilitate matchmaking between Chinese investors and local textile groups under the joint ventures initiative. The Chinese delegation agreed to the offer and appreciated the spirit and expressed the hope that both sides can play a vital role in the expansion of trade and investment in the trade sectors of the two countries. The Chinese delegation also extended an invitation to the Pakistani businessmen to visit Weihai in May. (SH)

Fibre2Fashion News Desk - India

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