CPEC Industrial Cooperation Textile B2B Webinar Highlights Areas for Cooperation in Textile

In a bid to promote business alliances and sectoral matchmaking between private enterprises of the textile sector of Pakistan & China, the Prime Minister’s Office, Board of Investment, Pakistan, organized a “CPEC Industrial Cooperation Textile Business to Business (B2B) Webinar” in collaboration with China Council for International Investment Promotion (CCIIP) and China National Textile & Apparel Council (CNTAC).

The webinar offered a platform for analysis of industry trends, bilateral investment opportunities & potential collaborations between companies of the two countries.

The opening remarks were delivered by Executive Director General BOI, Khashih-ur-Rehman. He stated that the webinar marks the actualization of the MOU signed in 2008 between BOI & CCIIP, and it will be integral in advancing B2B & P2P ties under CPEC Industrial Cooperation. In this context, he informed the participants that to facilitate business-to-business (B2B) matchmaking, BOI is also working on the development of an Online B2B portal that will assist potential domestic and foreign investors and serve as a one-stop database of available public and private sector investment projects.

Secretary BOI, Fareena Mazhar, welcomed the participants and stated that the webinar aims to rejuvenate the process of enhanced B2B matchmaking between Pakistani and Chinese enterprises. She appreciated the overwhelming support of the China National Textile and Apparel Council (CNTAC) and the Ministry of Commerce of the People’s Republic of China. Owing to the sector’s financial gains many international companies, including Chinese enterprises, are already operational in the country. She shared that “Challenge Apparel,” a Chinese company, has been successfully operating in Pakistan for years and now plans to expand with an additional investment of over USD 150 million.

She apprised the audience about Pakistan’s advantageous investment policies of SEZs, EV, Mobile device manufacturing policy and emphasized Pakistan’s commitment to facilitate B2B matchmaking. Mazhar underscored that CPEC Industrial Cooperation follows an all-inclusive policy and is open for third-party participation. The inclusion of Trade & Investment Officers in the webinar was to apprise them about investment opportunities under CPEC so the same could be communicated to investors in their respective countries. She concluded by welcoming export-oriented hi-tech Chinese enterprises to invest in Pakistan.

Project Director PMU & Moderator for the event, Asim Ayub, stated that the webinar mark’s the initiation of an unprecedented partnership involving the BOI, CIECC, CNTAC, CCIIP, and the Ministry of Commerce China. He informed the audience that the Textile Diagnostic Study conducted by CIECC on Pakistan’s Textile Sector in 2019 was very well received by the Pakistani side. However, there exists a need for a follow-up action plan to reap a more pragmatic and mutually beneficial outcome. The same point was taken up in the 5th Joint Working Group (JWG) meeting on Industrial Cooperation under CPEC held in December 2020.

Asim Ayub further stated that the webinar was the first of a series of webinars that would be held on mutually agreed priority sectors between Pakistan and China to keep steering the initiative of industrial cooperation under CPEC. He informed the participants about the inception of CPEC & the magnitude of its growth and possibilities. He stated that B2B joint ventures are intrinsic to the success of CPEC & SEZs & BOI will extend full support to Chinese investors for the successful materialization of their projects in Pakistan.

Wei Yan, Deputy DG of Asian Department PRC, highlighted that Pakistan and China share a strong and historic relationship at many levels, and CPEC as the flagship project of the Belt & Road Initiative will elevate the economic relationship between the two countries. He also briefed about the status of various projects under the CPEC umbrella.

Yao Wenping, Executive VP CCIIP, also reiterated CCIIP’s commitment to promoting industrial progress that will bolster economic growth via employment and investment opportunities. She expressed satisfaction with the progress of multiple ongoing projects in Pakistan.

“ICBC will provide financial advisory services, MNA, and financing for competitive expansion,” stated Zhang Hongpeng, Deputy DG ICBC.

Author of Textile Industrial Diagnosis Report, Dr. Du Zhen Li, delivered a detailed presentation on the textile sector of Pakistan wherein he conducted a SWOT analysis of the textile sector and shared that with the amelioration of the COVID-19 situation. A joint team of Pakistani and Chinese Experts will be formulated to undertake the matchmaking of textile enterprises from both sides.

While talking about Pakistan’s 3rd textile policy, which is currently in process, Director General Textile Industry Division Pakistan, Kanwar Usman, shared that the policy envisions full utilization of homegrown cotton to boost value-added exports and carve a name for Pakistan in global textile and apparel supply chain. He also stated that Pakistan textile export during covid 19 increased by an impressive 9 percent.

In addition to analyzing the textile sector of both countries and discussing the investment opportunities, notable textile companies from both sides, including Henan Province Garment Industry Association, Liaoning Xiliu Garment Business Management Group Co. Ltd., Jiangsu SAGA Textile Machinery Co. Ltd., Soorty Enterprises Ltd., Liberty Mills Ltd., and Mahmood Group presented their projects requiring cooperation and carried out discussions for potential matchmaking. The Chinese enterprises welcomed the efforts of public entities of both countries to actively involve the private sector and invited relevant Government entities of Pakistan to visit the textile landscape of China.

Secretary BOI, Fareena Mazhar, Executive Director General BOI, Khashih-ur-Rehman, Project Director CPEC Industrial Cooperation of BOI, Asim Ayub, Deputy President, CNTAC, Xu Yingxin, Author of Textile Industrial Diagnosis Report, Dr. Du Zhen Li, Deputy Director-General of Asian Department of the Ministry of Commerce of China, Wei Yan, Deputy GM, ICBC (Karachi Branch), Zhang Hongpeng, Director, China Road & Bridge Corporation (CRBC), Wang Lu, Chairman, FIEDMC, Mian Kashif Ashfaq, Director General (Textile Wing), Textile Industry Division, Pakistan, Kanwar Usman, Secretary-General, All Pakistan Textile Mills Association (APTMA), Shahid Sattar participated in the webinar.

Source: Pro Pakistani