Sino-Pak co-op in textile industry is ‘untapped’, says Chamber of Commerce for Import and Export of Textiles Vice President Zhang Xian
Beijing, Nov 29 (Asia Free Press): China is interested in enhancing investment cooperation with Pakistan in the textile and garment industries, international media reported, citing the China Chamber of Commerce for Textile Import and Export (CCCT).
In an interview with a Beijing-based media, CCCT Vice President Zhang Xian stated that the potential for a combination of strengths and weaknesses creates chances for the two countries’ textile industries to enhance collaboration.
“China is willing to strengthen investment cooperation with Pakistan in the textile and garment industry,” Zhang said, adding that collaboration and competition coexist for the textile industry in both countries and Sino-Pak co-op in the textile industry is ‘untapped’.
”Pakistan and China are perfect partners and there’s a lot that can be done,” the CCCT vice president added.
Pakistan is a world leader in cotton production, ranking among the top five in terms of yield, with cotton textile goods accounting for 40% of Pakistan’s exports, according to the report.
As a major garment producer, Pakistan’s exports of home textiles, clothing, and other processed products to the European Union, the United States, and other countries and regions have accelerated in recent years, which has accelerated imports of yarn and fabric from China, promoting industrial cooperation between China and Pakistan.
However, Zhang Xian emphasised that the two countries’ distinct stages of economic growth provide ample opportunity for closer cooperation.
According to the Pakistani customs statistics as cited by Geo News, Pakistan imports textiles and apparel from China account for 62% of overall imports, making China the country’s top supplier of textile and apparel imports.
According to figures given by China’s General Administration of Customs, the country imports primarily cotton yarn from Pakistan, and Pakistan ranks third among China’s cotton yarn import sources.