Chinese investors briefed on textile sector in Pakistan

Federal Minster Asad Umar and SAPM on CPEC Khalid Mansoor during the online meeting. [Photo/MoPDSI]

 

ISLAMABAD: In order to highlight to Chinese investors the comparative advantage of Pakistan’s textile sector, the CPEC Authority on Wednesday organized a meeting with China Chamber of Commerce for Import and Export of Textiles and leading Chinese textile companies and investors.

Asad Umar, Minister for Planning, Development and Special Initiatives, Khalid Mansoor, Special Assistant to the Prime Minister (SAPM) on CPEC Affairs, and some textile investors in Pakistan participated in the event. The Embassy of China in Islamabad and Pakistan’s Embassy in Beijing also joined the session.

The Federal Minister stated that Pakistan wished to have win-win cooperation with the Chinese investors and such meetings are aimed at giving the investors “an opportunity to develop deeper understanding of the investment opportunities in the textile sector”.

Mr. Umar said that the event was organized for Chinese investors to get a comparative advantage of Pakistan in the textile sector.

SAPM Khalid Mansoor briefed the participants on the measures being taken by the Government to facilitate the Chinese investors. “The legal framework is being further improved to make it easier for investors to start and run their operations,” he said, adding that the industrial cooperation segment of CPEC holds great potential and 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 in detail. The presentation included 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 SEZs were also discussed in detail.

 The Chairman of the Chinese Chamber, greatly appreciated the online exchange and said that it was very informative for the participants. He said that investors’ visits would be arranged as soon as the travel restrictions are phased out.

Representatives of a number of large Chinese textile companies participated in the session.