Islamabad, Dec 5: At the Pakistan-China B2B Investment Meeting on Textiles in Suzhou, China, Pakistan Ambassador to China Khalil Hashmi emphasized that Pakistan welcomes Chinese investments in our textile industry.
The event in Suzhou, a well-known center for China’s textile industry, was organized by the Board of Investment (BOI), the Pakistani Embassy in China, and the Pakistani Consulate General in Shanghai with the goal of promoting trade, investment partnerships, and joint ventures between top Pakistani and Chinese textile and apparel companies. This event also marked the opening of a Textile One Window Network (TOWN) Office under the Belt and Road Initiative (BRI).
Eleven well-known Pakistani businesses attended the event, and these businesses spoke with 37 significant Chinese businesses to go over particular suggestions and look into potential future partnerships. On Thursday, China Economic Net (CEN) released a report. Ambassador Hashmi described Pakistan’s textile industry as a backbone of the nation’s economy and emphasized the strategic benefits of investing in it.
“Pakistan provides access to international markets, established experience, and a supply chain that is vertically integrated,” he said. “Investing in Pakistan provides access to some of the biggest and most profitable markets in the world through preferential access under the China-Pakistan Free Trade Agreement (CPFTA), the European Union’s GSP+ program, and the UK’s Developing Countries Trading Scheme (DCTS).”
Rahim Hayat Qureshi, the secretary of the Board of Investment, gave a thorough presentation on Pakistan’s strong investment regulations and textile-specific facilitation measures. He went into detail about several incentives, such as simplified regulatory procedures, tax advantages, and infrastructural assistance in Special Economic Zones (SEZs).
The occasion was a component of a number of sector-specific steps taken by the prime minister of Pakistan to improve economic relations with China and fortify the nation’s industrial base.
