Chinese firms intend to manufacture textile products in Pakistan: Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce Abdul Razak Dawood on Friday said that Chinese companies intended to manufacture textile products in Pakistan.

Addressing a joint press conference along with Chinese ambassador to Pakistan Yao Jing, Dawood said that a free trade agreement had been signed with China and he would visit Beijing to meet Chinese trade minister on July 15.

He said that Chinese non-government organisation will visit Pakistan next month to provide technical expertise in textile sector.

Dawood said, “Government’s policies for the uplift of economic situation are on right track and economy cannot be strengthened without enhancing exports.”

Speaking on the occasion, Chinese ambassador Yao Jing said China had opened its ninety percent market for Pakistani products.

He said, “Pakistani fruit, including mangoes and fishery have been given duty free access in Chinese markets.”

The ambassador said that Chinese companies were relocating their supply chain and added that with one percent relocation to Pakistan, the country can expect an investment of 600 million dollars.

Earlier on April 28, Adviser to Prime Minister on Commerce, Textile, and Industry Abdul Razak Dawood had said that 11 agreements had been signed with China in the sectors of Information Technology, agriculture, railways and chemicals.

“Many investors are ready to come to Pakistan,” Abdul Razak Dawood had said while talking to media after the Free Trade Agreement with China.

The PM’s adviser had said around 400 investors had come to attend the Belt and Road Forum. “I was surprised to see so many investors in the forum.” He had said many of the investors were ready to come to Pakistan.