Lahore—Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) and China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) have inked a Memorandum of Understanding (MoU) to promote and expand cooperation between Pakistan and Chinese textile and apparel companies. The Association spokesman said here on Monday that the MoU signing ceremony was held during China Asia Textile Forum 2016 at Shanghai. The PRGMEA Chief Coordinator Ijaz Khokhar and the CCCT Chairman Jiang Hui signed the MoU document on behalf of their respective sides.
Ijaz Khokhar, who was the guest speaker from Pakistan side, also made presentation on Pakistan textile and apparel sector in China Asia Textile Forum. The forum was attended by major apparel associations and many leading Chinese garment companies from the whole Asia, he added. The spokesman said, it was the first time that a Pakistani garment sector’s body signed such an agreement with the overseas stakeholders for strengthening mutual trade of garment and textile. As per the MoU, the PRGMEA would provide visa assistance to Chinese companies through invitation letters, and in first phase, the CCCT delegation would visit Pakistan to attend Texpo Fair being held first time in Pakistan from April 7 to 10. The PRGMEA would also arrange factory visits for Chinese delegation, and B2B meetings with its members.
The PRGMEA also plans to arrange a trade delegation to visit China by the end of this year, he maintained. It was expected that Chinese companies would establish their units at the China Pakistan Economic Corridor (CPEC) economic zones through joint ventures of the local companies, with PRGMEA playing leading role after striking this deal with CCCT, he mentioned. The PRGMEA and CCCT had also agreed to deal with managing business contacts, seminars, business meetings, presentations, exhibitions, fairs and other arrangements to make potential partners and export possibilities available in the two countries. Both sides would assist also each other in small and medium size business development, provide technical assistance, search for partners for trade and joint ventures, as well as render other services of interest for business entities of the both parties.
In his presentation at the forum, Ijaz Khokhar highlighted overall situation and development trend of Pakistan’s garment sector and textile industry. He said the CCCT as part of the Ministry of Commerce was the largest textile and apparel trade agency both in China and the world. The 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 fibers, 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 percent of the total export and import volume of Chinese textile and apparel industry as a whole. Ijaz Khokhar said that China had a lot of opportunities for Pakistani merchandise, adding 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 existed in value-added textile sector of Pakistan and now it was the duty of the policymakers to help the garment industry make this MoU meaningful. Khokhar called for exchange of business delegations so that both sides could have first hand knowledge of available opportunities in Pakistan and China. He hoped that economic relation between the two countries would strengthen further to create a win-win situation for Pakistan and China. The PRGMEA Chief Coordinator said that China was well positioned to take advantage of Pakistan’s economic potential and its geo-strategic location. “Let us make trade and investment, the central pillar of this cooperation,” he concluded.