China Keen for Investment for Pakistan in Textile Sector
Beijing: The China Chamber of Commerce for Import and Export of Textiles (CCCT) stated earlier that China is interested in enhancing investment cooperation with Pakistan in the textile and apparel industry.
Speaking to a national news outlet in China, CCCT Vice President Zhang Xian claimed that the Sino-Pak textile co-op is an untouched market, but that the combination of the two countries’ strengths and shortcomings offers potential to further their cooperation.
It is important to note that Pakistan is one of the top cotton producers in the world, ranking among the top five in terms of yield and exporting 40% of its exports as cotton textiles.
Since Pakistan is a significant producer of clothing, its exports of clothing, home textiles, and other processed goods to the US, the EU, and other nations and regions have risen quickly in recent years. This has sparked a rise in yarn and fabric imports from China and encouraged trade between the two nations.
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China is the main supplier of textile and apparel imports into Pakistan, making about 62 percent of all imports, according to information provided by Pakistan Customs.
Pakistan is third among the countries that China imports cotton yarn from, according to figures provided by the General Administration of Customs of China.
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