Islamabad, Dec 8: At the 2024 China Textile Conference in Keqiao, Shaoxing, the Board of Investment (BOI) of Pakistan and the China National Textile and Apparel Council (CNTAC) inked a memorandum of understanding (MoU).Pakistani food
The textile sector in China is currently undergoing significant upheaval and innovation. How to use “science and technology, fashion and green” as a guide, continuously develop new productivity, and build the industry’s future has emerged as a new concern for the sector.An MOU is signed by CNTAC and BOI to create a textile industry park in Pakistan.Speaking during the conference, Pakistan’s ambassador to China, Khalil Hashmi, stated that the signing of a historic Memorandum of Understanding between CNTAC and Pakistan’s Board of Investment was significant.
A strong foundation for the establishment of textile parks in Pakistan would promote knowledge transfer, increase capacity, and improve bilateral trade. The guests talked about cutting-edge industry innovation trends with a focus on four main topics: “Innovation Environment, Materials, Artificial Intelligence, and Production Processes.” The goal was to encourage the transformation and optimization of the global textile supply chain, according to China Economic Net (CEN).
The China National Textile and Apparel Council (CNTAC) hosted the annual China Textile Conference in Shaoxing City, which I attended with the Secretary Board of Investment and prominent representatives from Pakistan’s textile industry. For the first time, being the sole foreign participant, Pakistan was granted this special privilege.
The Ambassador went on to say, “We emphasized why investing in Pakistan’s textile and apparel industry was a mutually beneficial proposition.” Secretary BOI and the Vice President of CNTAC signed a Memorandum of Understanding on cooperation in the textile and apparel industry, which includes the creation of parks in this significant sector of Pakistan. “Thanks for the support, Shandong Ruyi Group.”
The foundation of our economy and a significant source of our exports is the textile industry. Being the world’s fifth-largest cotton exporter and second-largest provider of cotton fabric presents unparalleled opportunities for cooperation. Pakistan is in a unique position to be a perfect partner for Chinese businesses because of its strategic location, highly qualified workforce, and vertical integration, Hashmi said.
