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TEXPO attracts orders

PAKISTAN’S biggest textile exhibition at the government level,TEXPO-2019, held in Lahore, remained successful in attracting $600 million trade through export orders by foreign buyers. Confirming the export orders, Secretary Commerce Ahmad Nawaz Sukhera, whilst talking to the media persons at the closing session of the exhibition said foreign buyers also inked 10 memorandums of understanding (MoUs) with local export houses, besides visiting field and industrial units in Lahore, Sialkot and Faisalabad.
Indeed Pakistan’s textile products are known for their quality and class around the world and TEXPO-2019 organized jointly by Ministry of Commerce and Industry and Trade Development Authority of Pakistan provided an opportunity to further showcase the value added textile products to the foreign buyers and we are sure that this sector specific trade platform will lead to more export agreements with other foreign companies. Despite being faced with many challenges, the textile sector has remained the country’s backbone as it provides employment and export revenues. Pakistan is the 8th largest exporter of textile commodities in Asia and textile sector contributes 8.5% to the GDP of Pakistan and with the right kind of intervention and support to the textile sector, these exports can substantially be enhanced. Firstly, the government should fully support the cotton growers in order to produce sufficient quantity of the crop at home instead of relying on the imported crop. Then measures like further reducing the gas and electricity prices for the export industries especially the textiles will further make them competitive in the world markets. Given the current trend, we are sure that textile and clothing exports can easily double to $26bn in the next five years if the government continues to support the industry through a long-term policy. We need to increase our capacity to create an export surplus and invest heavily in value-added sectors. There is need to establish new weaving, processing and garment units to convert yarn into value added products. This will not only boost our textile exports but also provide hundred and thousands of job opportunities to our youth.