Members of Indian and Pakistani textile mills associations have deliberated on the ways to gain optimum share in the global cotton export trade.
An 11-member team of the Northern India Textile Mills Association led by its President Mukund Chaudhry and members of All Pakistan Textile Mills Association (APTMA) discussed the vital issue.
Although the two countries jointly account for 50 percent of the world's total cotton production, they hold just five percent share in the global market.
The meeting was apprised that India and Pakistan share just US$ 40 billion of the overall global cotton market of US$ 800 billion. While India has a share of US$ 26 billion and Pakistan accounts for US$ 14 billion.
The meeting stressed on the need for mutual cooperation between the two economies and their entrepreneurs to enhance their share in world trade.
Pakistan Federal Textile Minister Makhdoum Shahabuddin and APTMA Chairman Mohsin Aziz, who were present at the meeting, asked the cotton millers from both the countries to grasp each other's textile set up and the requirements of both the economies to ward off the issue of competitiveness and other hiccups.
Both India and Pakistan have the potential to raise their cotton export share in the international market by almost three times, they added.
Fibre2fashion News Desk - India
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