LAHORE: Pakistani readymade garments manufacturers and Chinese investors have signed a memorandum of understanding (MoU) to promote and expand cooperation between Pakistan and Chinese textile and apparel companies.
The Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) and China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) inked the MoU during a ceremony, held during China Asia Textile Forum 2016 at Shanghai.
PRGMEA chief coordinator Ijaz Khokhar signed the MoU on behalf of the association, while China Chamber of Commerce for Import and Export of Textile and Apparel was represented by its chairman Jiang Hui. The forum was attended by major apparel associations and many leading Chinese garment companies from the whole Asia.
It is the first time that a Pakistani garment sector body signed such an agreement with the overseas stakeholders for strengthening mutual trade of garment and textile.
As per the MoU, PRGMEA will provide visa assistance to Chinese companies through invitation letters.
In first phase, CCCT delegation is visiting Pakistan to attend Texpo Fair being held first time in Pakistan from April 7 to 10. PRGMEA will arrange factory visits for Chinese delegation, and B2B meetings with its members. PRGMEA also plans to arrange a trade delegation to visit China by the end of this year.
It is expected that Chinese companies will establish their units at CPEC Economic zones through joint ventures of the local companies, with PRGMEA playing leading role after striking this deal with CCCT.
PRGMEA and CCCT have also agreed to deal with managing business contacts, seminars, business meetings, presentations, exhibitions, fairs holdings and other arrangements to make potential partners and export possibilities available in the two countries.
In his presentation, PRGMEA chief coordinator Ijaz Khokhar highlighted the overall situation and development trend of Pakistan’s garment sector and textile industry. He said that CCCT as part of the Ministry of Commerce is the largest textile and apparel trade agency both in China and the world. CCCT member companies, totalling more than 12,000 and operating in 34 provinces across the country, engage in the production and export and import of textile fibres, yarns, fabrics, clothing, home textiles, industrial textiles and accessories. Its member companies comprise the majority of Chinese textile and apparel enterprises incorporating export and import enterprises, the trade volume of which accounts for 70% of the total export and import volume of Chinese textile and apparel industry as a whole.
Ijaz Khokhar said that China is not a traditional market and have a lot of opportunities for Pakistani merchandise. He said that MoU between the PRGMEA and CCCT would go a long way and help Pakistani value-added garments goods to find their way in Chinese market.
He said that ample opportunities exist in value-added textile sector of Pakistan and now it is the duty of the policy makers to help the garment industry make this MoU meaningful.
