The All-Pakistan Textile Mills Association (APTMA) has called for greater collaboration with China to help Pakistan achieve its ambitious exports target of $50 billion per annum by 2029. Representing more than 223 textile companies, the association believes that strengthened ties with China, a leading player in the global textile industry, can significantly boost Pakistan’s export earnings.
“Pak-China cooperation in the textile industry is a must to showcase complementary advantages across various categories, presenting a robust framework for mutual growth and development,” said APTMA Secretary General Shahid Sattar while talking to Gwadar Pro recently.
This strategic partnership, bolstered by initiatives like the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC), has a profound impact on Pakistani firms gaining access to the Chinese market. Pakistan’s export of goods and services to China witnessed a 40.01 percent increase during the first six months of the current fiscal year (2023-24) compared to the exports of the corresponding period last year, announced the State Bank of Pakistan (SBP).
This signifies a major achievement and highlights the growing economic ties between the two nations.
To seize export opportunities for Pakistan’s textile and apparel industry, APTMA recently published a comprehensive report covering the entire value chain. The report presents a 41-point policy roadmap designed to meet ambitious targets, such as increasing sector exports to more than $50 billion annually by 2029.
Additionally, Sattar noted that China’s textile industry remains at the forefront of technological and sustainable advancements. China is making strides in high-end manufacturing and is pushing forward with innovations in synthetic fibers and green manufacturing processes.
This commitment to innovation has positioned China as a leader in the global textile market, with a focus on producing higher quality, environmentally friendly products. Pakistan is experiencing a transformative shift towards ethical and sustainable fashion, including the adoption of eco-friendly materials such as organic cotton and recycled fabrics, and the integration of traditional craftsmanship with contemporary designs.
These efforts have been complemented by the significant growth in exports during FY20-FY22.
Nevertheless, substantial opportunities for further cooperation exist, especially in sustainable and eco-friendly textile production, research and development in textile technology, and joint initiatives to explore new markets.
Potential joint ventures across multiple sectors were explored, indicating a broader spectrum of collaboration between Pakistan and China. Talks about the possibility of transferring advanced Chinese technology to Pakistan’s Special Economic Zones (SEZs) could drive innovation and economic development in Pakistan.
