The federal government wants top foreign brands to open outlets in Pakistan and is willing to provide office space for their commercial offices in the country.
For global brands and retailers that come to Pakistan for sourcing with local businesses under the ‘Make in Pakistan’ initiative, the first six months of their expenses will be covered by the Export Development Fund (EDF), reported a national daily.
The ongoing trade war between the United States and China has prompted US firms to move their sourcing outlets from China to other countries. Pakistan’s Commerce Ministry has stepped up its efforts to entice more US firms to source from Pakistan.
In this regard, the country’s textile and apparel industry executives will arrange a roadshow during the Heimtex exhibition in January 2024 in Frankfurt, Germany, to entice foreign industries to open sourcing houses in Pakistan. Pakistani entrepreneurs plan on expanding their contacts with global textile and apparel industry leaders at this event, with more roadshows to take place in January and February in Paris, Miami, New York, and Las Vegas.
During the ‘Make in Pakistan’ roadshows, the country’s business leaders will target companies like Nike, The TJX Companies Inc., Walmart, Target Minneapolis, Macy’s New York, Nordstrom, Dick’s Sporting Goods, American Eagle Outfitters, Abercrombie H&M (Hennes & Mauritz) Stockholm, Sweden and Fast Retailing Companies Ltd.
They will also seek to attract companies like Anta Sports Products Ltd Jinjiang, China, Boohoo Manchester, UK, John Lewis, UK, ASOS London, UK, River Island London, UK, Next Plc Enderby, UK, Marks & Spencer London, UK, and JD Sports, UK.