Pakistan attracts Chinese investments in Textile

BEIJING: Pakistan has extended a warm welcome to Chinese investments in its textile sector, stated Khalil Hashmi, Pakistan’s Ambassador to China, during the Pakistan-China B2B Investment Meeting on Textiles held in Suzhou, China.

The event, organized by the Pakistani Embassy in China, the Pakistani Consulate General in Shanghai, and the Board of Investment (BOI), took place in Suzhou, a renowned hub for China’s textile industry. Its primary goal was to promote joint ventures, trade, and investment partnerships between leading Pakistani and Chinese textile and apparel enterprises.Chinese delegation expresses confidence in SIFC

A significant highlight of the event was the launch of the Textile One Window Network (TOWN) Office under the Belt and Road Initiative (BRI), designed to streamline collaboration and facilitate partnerships in the textile sector.

• Participation: Eleven leading Pakistani textile companies engaged with 37 prominent Chinese firms, discussing specific investment proposals and exploring avenues for future collaboration.
• Strategic Advantages:
  Ambassador Hashmi underscored Pakistan’s textile sector as a cornerstone of the country’s economy.
  • “Pakistan offers global market access, extensive expertise, and a vertically integrated supply chain,” he noted.
  • Highlighted incentives include preferential trade access through the China-Pakistan Free Trade Agreement (CPFTA), the European Union’s GSP+ scheme, and the UK’s Developing Countries Trading Scheme (DCTS), granting investors access to some of the largest global markets.

Rahim Hayat Qureshi, Secretary of the Board of Investment, presented Pakistan’s pro-investment policies and facilitation mechanisms tailored for the textile sector.

• Incentives Offered:
  • Streamlined regulatory processes.
  • Tax benefits.
  • Infrastructure support within Special Economic Zones (SEZs).

This event was part of a broader series of sector-specific initiatives spearheaded by the Pakistani Prime Minister to bolster the country’s industrial base and deepen economic ties with China.

The Pakistan-China collaboration in textiles represents a significant step toward mutual economic growth and strengthening the bilateral relationship under the Belt and Road Initiative.