Gohar Ejaz urges Chinese textile manufacturers to invest in Pakistan
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The Commerce and Industry Minister of Pakistan, Gohar Ejaz, highlighted the potential for joint ventures and investment in the textile sector between the two countries during his address at the Pakistan-China Economic and Trade Conference held in Shangshu Province, China, reported 24NewsHD TV channel Thursday.
He said that China is Pakistan's largest trade and investment partner and that the textile sector is important for both economies.
He said that Pakistan's textile industry is the largest in its economy and contributes 60 percent to its exports.
He said that Pakistan's textile exports reached 19 billion dollars in 2021-22 and that Pakistan is a major importer of textiles and textile machinery from China.
He invited the Chinese textile manufacturers to invest in Pakistan and benefit from its favourable investment policy, which he claimed is the easiest in South Asia.
He also mentioned the incentives and tax exemptions offered to Chinese investors in the Special Economic Zones established under the China-Pakistan Economic Corridor (CPEC).
He said that CPEC is a flagship project of the Belt and Road Initiative and that projects worth billions of dollars have been completed under it in the last 10 years.
He expressed his hope that the conference will strengthen the economic and trade ties between Pakistan and China, especially in the textile sector.
Reporter: Waqas Azeem