China / Pakistan – A 20-member business delegation from the coastal city of Weihai, the eastern Shandong province of China, and the All Pakistan Textile Mills Association (APTMA) have agreed to explore the potential of joint ventures and investment opportunities in textile sector of Pakistan.
A 20-members Chinese delegation from Weihai visited the APTMA Punjab. APTMA Punjab Chairman Aamir Fayyaz welcomed the delegation, which was headed by Zhang Buwen of Shandog Hushan Group. While making a detailed presentation, the APTMA Punjab chairman highlighted the significance, structure, strength and sustainability of the textile industry in Pakistan.
He said there exists great potential for foreign investment in the textile industry of Pakistan, as it enjoys the GSP plus market access to the EU. Converting surplus basic textile into clothing carries a potential of $15 billion increase in exports from Pakistan, he added.
He expressed hope that the China-Pakistan Economic Corridor (CPEC) would enhance trade and bilateral relations further to new horizons. The APTMA chairman also offered to act as focal organization to facilitate matchmaking of the Chinese investors with local textile groups under the joint ventures initiative.
The Chinese delegation agreed to the offer and appreciated the spirit, and expressed hope that both sides would help each other in expansion of trade and investment. Head of the visiting Chinese delegation thanked the APTMA leadership for a detailed presentation and hoped that it would play a pivotal role in the expansion of trade and investment between the two countries. The Weihai Ministry of Commerce has also invited the APTMA delegation to visit china for this purpose.
Source: Daily Times