Pakistan’s textile industry needs to seek more Chinese investment

According to a report by Pakistan’s Express Tribune on September 5, China’s annual textile exports reached US$284 billion, accounting for 37% of the world’s total exports. Pakistan’s textile industry exports are US$13 billion, accounting for 1.7% of the global market. In recent years, China’s overseas investment in the textile industry has mainly focused on investing in the construction of factories or industrial parks. Although investment in developing economies such as Vietnam and India and developed regions such as Europe and the United States has been increasing, investment in Pakistan has been relatively small.

Industry insiders said that with the development of the industry, China’s textile industry is undergoing transformation and upgrading to produce more high value-added products. However, the resulting production market for low-value products has been occupied by countries such as India, Vietnam, and Bangladesh. , Pakistan has not gained tangible benefits.

In addition, due to factors such as power shortage, high business costs, severe security situation and unstable government preferential policies, China is not very enthusiastic about investing in Pakistan’s textile industry. Previously, China’s Shandong Ruyi Group intended to acquire Pakistan’s Masood Textile Factory, but it has been unable to implement it.

Industry insiders said that the advantage of Pakistan’s textile industry lies in its strong cohesion in the industry, but attracting Chinese investment is not easy. The Pakistan Textile Industry Association and related organizations need to study carefully and strive to create good conditions to attract Chinese investment. Pakistan’s textile industry needs to seek more Chinese investment

AAA

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