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Pakistan woos Chinese textile sector
30
Jul '16
Impressed by the smooth conduct of business in China's economic development zone of Jimo city, chief minister of Pakistan's Punjab province Shahbaz Sharif said that facilities provided to the textile sector in Jimo would be replicated in the province.

Sharif was on a visit to the economic development zone in Jimo, where he saw modern facilities available for investors in the textile and garments sector.

He showed special interest in the one-window service centre and an international pavilion in the zone and told reporters that following the Chinese model he would set up service centres in Punjab to facilitate investment.

Addressing Chinese garments sector investors, Sharif said Chinese garments were very popular in the world. Punjab was an ideal place for investing in this field and that investors should bear in mind that by next year abundant electricity would be available for supply to the industry.

The chief minister said that maximum possible facilities would be provided to foreign investors so that progress and prosperity of the province could be ensured. He said industrial growth would help create jobs for the unemployed youth.

Around 50 important agreements were signed between China and the Punjab government in energy, vocational training, textile, infrastructure and transport sectors during Sharif's visit, according to media reports in Pakistan.

“Work on these agreements will be completed speedily,” he added.

Meanwhile, Ahsan Iqbal, Pakistan's minister for planning, development and reform has said that Chinese textile industries are keen to establish joint ventures with Pakistani companies.

The Pakistan Hosiery Manufacturers Association (PHMA) in a statement quoted Iqbal as saying that China's labour intensive industries were becoming uncompetitive due to high production cost, which is why they were shifting manufacturing to other locations and focusing on research.

“If we are able to have joint ventures with them, it will benefit the businessmen of both the countries,” he had said at a meeting with the members of the textile value-added sector. (SH)

Fibre2Fashion News Desk – India


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