The China-Pakistan Economic Corridor (CPEC) Authority organized on Wednesday a session with the China Chamber of Commerce for Import and Export of Textiles and leading Chinese textile companies and investors on the potential of Pakistan’s textile sector.
Federal Minister for Planning, Development & Special Initiatives, Asad Umar, Special Assistant to the Prime Minister on CPEC Affairs, Khalid Mansoor, and some textile investors from Pakistan attended the event alongside officials of the Embassy of China in Islamabad and Pakistan’s Embassy in Beijing. Representatives of a number of large Chinese textile companies were also part of the session.
Addressing the session, Asad Umar stated that the event had been organized to highlight to the Chinese investors the comparative advantage of Pakistan in the textile sector. He reiterated that Pakistan wished to have win-win cooperation with the Chinese investors. Such meetings are aimed at giving the investors an opportunity to develop a deeper understanding of the investment opportunities in the textile sector, he noted.
Khalid Mansoor briefed the participants on the measures being taken by the government to facilitate the investors. He said the legal framework was being further improved to make it easier for investors to start and run their operations. He said the industrial cooperation segment of CPEC held great potential, adding that significant work was underway to make full use of it.
A detailed presentation on the textile sector of Pakistan was given to Chinese entrepreneurs and investors wherein various aspects of comparative advantages of Pakistan were explained. The presentation encompassed comparative data of the region for transportation, labor, utilities, and other costs for the investors. It also highlighted the favorable market access situation for the country’s products in foreign markets.
The facilities and incentives available to investors in CPEC Special Economic Zones (SEZs) were also discussed in detail.
Chairman Chinese Chamber announced that the visits of investors to Pakistan would be arranged as soon as the travel restrictions were removed.
Speaking on the occasion, other participants also highlighted various aspects of the textile sector of Pakistan.