The MoU, the first of its kind for Pakistan, was signed between Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) and China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) was signed at the China Asia Textile Forum 2016 in Shanghai on Monday, Pakistani newspapers have reported.
PRGMEA was represented by its chief co-ordinator Ijaz Khokhar while CCCT was represented by its Chairman Jiang Hui.
Khokhar made a presentation on Pakistan's textile and apparel sector at the forum, which was attended by major apparel associations and many leading Chinese garment companies.
He said that although China is not a traditional market for Pakistan, it can offer a lot of opportunities for Pakistani merchandise. The MoU between the PRGMEA and CCCT would go a long way and help Pakistani value-added garments goods to find their way in the Chinese market, he added.
Khokhar said that ample opportunities existed in value-added textile sector of Pakistan and now it was the duty of the policymakers to help the garment industry make this MoU meaningful.
As per the MoU, PRGMEA will provide visa assistance to Chinese companies through invitation letters.
A CCCT delegation will visit Pakistan to attend Texpo from April 7 to 10. PRGMEA will arrange for the Chinese delegation factory visits and B2B meetings with its members. PRGMEA has also planned a trade delegation to visit China by the end of this year. It is expected that Chinese companies will establish their units at CPEC Economic zones through joint ventures of the local companies, with PRGMEA playing a leading role after striking this deal with CCCT.
PRGMEA and CCCT have also agreed to deal with managing business contacts, seminars, business meetings, presentations, exhibitions, fairs holdings and other events to establish potential partners and export possibilities available in the two countries.
According to the MoU, PRGMEA and CCCT will also assist each other in small and medium size business development, provide technical assistance, search for partners for trade and joint ventures, as well as render other services of interest for business entities of both parties.
CCCT is the largest textile and apparel trade agency in China and the world. Its members, totalling more than 12,000 operating in 34 provinces across the country are engaged in the production and export and import of textile fibres, yarns, fabrics, clothing, home textiles, industrial textiles and accessories. The trade volume of its members accounts for 70 per cent of the total export and import volume of Chinese textile and apparel industry as a whole. (SH)
Fibre2Fashion News Desk – India