China Pakistan Trade Forum Held Successfully

The friendship between China and Pakistan has a long history. In 2015, the two countries agreed to upgrade the China Pakistan relationship to an all-weather strategic cooperative partnership. China Pakistan Economic Corridor project is a landmark project of China's "one belt and one road" initiative. The agreement on the second phase of China Pakistan Free Trade Agreement has been officially signed, and has come into force since January 1, 2020.

In the context of the global epidemic and the continuous downturn of economic growth, in order to promote economic and trade exchanges and practical cooperation between China and Pakistan, effectively build a platform for economic and trade exchanges and cooperation in the textile industry between China and Pakistan, and help the bilateral economic and trade cooperation develop in depth, the Pakistan China textile industry trade and investment network seminar co sponsored by China Textile Industry Federation and Pakistan Trade Development Agency was held on December 8 。

Ali Manji, Secretary General of Pakistan Trade Development Agency, Hussain Hyde, Consul General of Pakistan Consulate General in Shanghai, Xu Yingxin, vice president of China Textile Industry Federation, Yuan Hongping, deputy secretary general and director of Foreign Affairs Office of China Textile Industry Federation, leaders of relevant industry associations and key local industry cluster associations, as well as economic and trade cooperation in textile and clothing industry between the two countries Representative executives of enterprises participated in the webinar.

The meeting was jointly presided over by Ali, Deputy Consul General of Pakistan Consulate General in Shanghai, and Liu Yaozhong, deputy director of the International Trade Office of China Textile Industry Federation.

At the beginning of the meeting, Hussein Hyde, Consul General of Pakistan Consulate General in Shanghai, shared with the delegates the general situation of Pakistan China Trade and textile trade. China is Pakistan's largest trading partner, the largest source of imports, the second largest export destination and the largest source of investment. In 2019, Pakistan's total exports of textiles and clothing to China amounted to US $13.6 billion, accounting for 25.3% of Pakistan's total exports to China. The main export products were cotton yarn, knitted garments and home textiles.

Subsequently, Xu Yingxin, vice president of China Textile Industry Federation, delivered a keynote speech on the current situation of China's textile industry under the new epidemic situation and the prospect of China Pakistan textile industry cooperation. The new epidemic situation in 2020 has brought great challenges to the world, and China's textile industry has also suffered a certain impact. Thanks to effective epidemic prevention and control, China's economy has recovered steadily since April. Among them, the total export volume of textile masks reached 240.1 billion US dollars in this year. President Xu also shared the relevant situation of China's textile industry "going global". According to incomplete statistics, the stock of foreign investment in China's textile industry exceeds 10 billion US dollars, and overseas investment enterprises are distributed in 100 countries and regions. Since 2013, China's textile industry has invested more than 120 million US dollars in Pakistan. Finally, Xu Yingxin concluded that the comparative advantages of China and Pakistan's textile industry are very prominent, and there are opportunities for cooperation between the two countries' industries around cotton spinning, garment manufacturing and linking up the upstream and downstream of the industrial chain.

Ali Manji, Secretary General of Pakistan Trade Development Agency, shared with you from the perspective of Pakistan's investment environment and policies. He mentioned that Pakistan has 65% of the young population aged 23-32, and the average wage of its workers is only one third of that of China, which has a strong labor advantage for labor-intensive industries; Many industrial parks and special economic zones have been set up in China, mainly in Karachi and fissalabad. Textile and garment enterprises can enjoy special policy support for investment in the parks, such as the ultra generalized system of preferences (GSP), zero tariff treatment for exporting to Europe, and subsidies for water and electricity charges to reduce production costs; At the same time, the construction of a new transportation hub for China and Pakistan will also bring convenience to the construction of China Pakistan economic hub.

After the end of the keynote report, five representatives from Pakistan (sooty enterprises, sapphire mills Ltd, Al Karam Textiles Ltd, rajby Industries Ltd and Chen one) who are engaged in the production and export of clothing, jeans, home textiles and fabrics were invited Ltd., respectively introduced the situation of their respective companies and the cooperation intention of Chinese textile enterprises, and emphatically introduced the opportunities for Chinese textile enterprises to invest in Pakistan.

Textile is its core business, which involves wind power generation, packaging, industrial oil and other fields. Soorty is currently the largest vertically integrated cowboy company in Pakistan. Its products are mainly exported to Europe and the United States, with an annual export value of 300 million US dollars for Pakistan factories and 70 million US dollars for Bangladesh factories. Yarn 2460 tons / month, fabric 6.5 million meters / month, clothing 4 million pieces / month.

Pakistan's enterprise representatives hope to carry out upstream and downstream industry cooperation and skill training cooperation with Chinese textile and garment enterprises, and sincerely hope to establish joint ventures with Chinese enterprises in Pakistan to achieve mutual benefit and win-win results.

During the meeting, Xie Ming, honorary president of Jiangsu textile industry association and Liu Jianguo, President of Shandong textile and garment industry association, briefed the participants on the latest situation of textile and garment industry in each province and cooperation with Pakistan, and suggested strengthening mutual visits between industry personnel of the two countries, increasing understanding and promoting cooperation.

Subsequently, representatives of Chinese enterprises, including jialinjie Fashion Co., Ltd., Jingwei Textile Machinery Co., Ltd., Shandong Nanshan Zhishang Technology Co., Ltd., and Zhejiang gangpo Trading Co., Ltd., shared their respective companies' investment and cooperation in Pakistan.

Warp and weft spinning machine is the earliest textile equipment production base in China. With nearly 70 years of professional accumulation, it has a full process of multi varieties of spinning, twisting, warp knitting, spinning machine parts and other product structure. The products are exported to more than 40 countries and regions in the world, and has developed into the world's largest cotton spinning complete equipment and the only full process equipment supplier. Pakistan used to be the largest overseas market for warp and weft spinning machines. Through equipment promotion, itinerant service and technical support, mutual understanding is enhanced. Pakistan is willing to cooperate with Pakistan to establish Pakistan's intelligent sample demonstration factory and Service Center for win-win cooperation.

Jialinjie group is mainly engaged in the R & D, production and sales of high-end knitted fabrics and their ready-made garments for outdoor sports. It is the supplier of many global famous outdoor sports brands and high-end mass sports brands. In 2018, jialingjie Fashion Co., Ltd. started operation in Lahore. At present, the number of employees has increased from 1000 to 3000, and the sales volume has increased from $10 million to $40 million. Land has been purchased in Lahore and a new industrial park is to be built. In his speech, President Chen made a very pertinent analysis of the advantages and disadvantages of investment in Pakistan, which benefited the delegates.

China and Pakistan are important partners along the belt and road, and industrial cooperation between the two countries is also conducive to the common development of their industries. It is hoped that this webinar will further deepen China Pakistan textile industry cooperation and jointly open a new chapter of cooperation in the post epidemic era.