Hands, UK Minister of State for Trade Policy said that Pakistan
is a potential market of 200 million people and both the
countries were willing to enhance the bilateral trade. He said
that bilateral trade between Pakistan and UK increased after the
GSP Plus from the European Union adding that the position of
Britain would remain the same as had been before Brexit.
Pakistan needs to modernise spinning industry to boost its
textile exports, said Shaohui Zhang, Head of a Chinese
delegation. He said that the production capacity of spindles is
very low. Pakistan has high-quality cotton and good quality
labour, with the technology advancement these can be utilised in
a better way to produce high-quality yarn.
Pakistan has never analysed the challenges to its own industries
and manufacturing sector after execution of CPEC. No
safeguarding measures have taken in the bilateral agreements of
CPEC to save the textile sector which contributes 60% to overall
exports of the country, said an official source at Textile
Division. Pakistan may become a trader after the massive
investment by China in textile processing, from cotton to
ginning, spinning, fabric, processing, made-ups and garments.
According to the 10-year textile development plan by China in
its Xinjiang Uygur Autonomous Region which is also sometimes
called East Turkestan, Xinjiang will build China’s largest
cotton textile production base and the largest garment export
processing base. By 2023, Xinjiang will become the largest
cotton textile industry base in China and the most important
clothing export base in Western China.
The All Pakistan Textile Mills Association (APTMA) announced
that almost 140 textile mills have already closed their
operation and about one million workers have lost their jobs and
another 75 to 80 mills are on the verge of closure, which will
add to the unemployment figure by another 0.5 million labour
forces employed in the textile industry.
The government should continue the implementation of the textile
package and extend notification for the payment of incentives
from July 1, 2017, to onwards, said Faisalabad Chamber of
Commerce & Industry (FCCI) President Engineer Muhammad Saeed
Sheikh. He expressed satisfaction over the increasing trend in
textile exports which was the natural outcome of the
implementation of the textile package.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
have urged the US to extend GSP facility till December 2020 and
include core Pakistani textile products in the facility. US has
given GSP access to Pakistan, allowing duty-free and duty
concession access for several products; however, the scheme does
not include core textile and leather products export.