Home / Knowledge / News / Textiles / Pakistan carpet industry to tap Chinese market
Pakistan carpet industry to tap Chinese market
15
Oct '12
China would help Pakistani carpet industry to boost its competitiveness and tap Chinese carpet market.
 
A Chinese delegation, which is on a visit to Pakistan to explore joint venture opportunities for encouraging economic activities between the two nations, inked a Memorandum of Understanding (MoU) with the Pakistan Carpet Manufacturers and Exporters Association (PCMEA). 
 
To enable Pakistan to tap the emerging handmade carpet market in China, the delegation has offered research and development assistance to the producers of handmade carpet in Pakistan.
 
China has led the way for globalization and localization that boosted global economic development, Huang Guojun, Director General of the Administrative Committee of Nanchuan Industrial Park, said while speaking at the MoU inking ceremony.
 
He said they would be delighted to help the Pakistani carpet industry with its upgradation, and thereby enabling it to tap the Chinese market.
 
After laying foundation for establishment of a business development centre in Pakistan, Mr. Guojun also launched an office of Nanchuan Industrial Park in Lahore, to extend research and development assistance to the Pakistani industry.
 
Speaking on the occasion, he urged Pakistani carpet producers to invest in the industrial park and also called on the PCMEA to participate in the world carpet expo slated to take place in Quinghai, China next year.
 
Anjum Bashir, Secretary, Pakistan Board of Investment, said though Pakistan is also in favour of enhancing mutual trade, still it necessitates some foreign direct investment (FDI) from China.
 
FDI worth around US$ 769 million have flown into Pakistan from mainland China over the past five years, and some US$ 11.7 million have flown in from Hong Kong. During last fiscal itself, around US$ 120.9 million and US$ 80.3 million came to Pakistan in FDI from China and Hong Kong, respectively, he said.
 
He added that the trade volume between the two countries is expected to rise to US$ 10 billion over the next two years. Last fiscal, trade between the two countries stood at US$ 5.704 billion.
 

Fibre2fashion News Desk - India

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search