LAHORE: The All Pakistan Textile Mills Association (Aptma) and Ministry of Commerce China, Weihai have joined hands to explore the potential of joint ventures and investment opportunities in textile sector of Pakistan and inked an MoU in this regard.
The Ministry of Commerce China, Weihai has also invited the Aptma to visit China in May this year. A 20-members Chinese delegation from the Ministry of Commerce Weihai, China visited the Aptma Punjab. Aptma Punjab Chairman Aamir Fayyaz welcomed the delegation, headed by Zhang Buwen of Shandog Hushan Group.
While making a detailed presentation, the Aptma Punjab chairman highlighted the significance, structure, strength and sustainability of the textile industry in Pakistan. He said there exists great potential for the foreign investment in textile industry of Pakistan, as it enjoys the GSP plus market access to the EU. Converting of surplus basic textile into clothing carries a potential of $15 billion increase in exports from Pakistan, he added
He expressed the hope that the China-Pakistan Economic corridor will enhance trade and bilateral relations further to new horizons.
The Aptma chairman also offered to act as focal organisation to facilitate match making of Chinese investors with local textile groups under the joint ventures initiative. The Chinese delegation agreed to the offer and appreciated the spirit and expressed the hope that both sides would help each other in expansion of trade and investment.