Pakistan, China to enter into joint ventures for textile industry | Textile News Pakistan
Home » News » Textile Mills News » Pakistan China To Enter Into Joint Ventures For Textile Industry

Pakistan, China to enter into joint ventures for textile industry

Share: 
      Newsletter

READ MORE ON Pakistan Textile IndustryPRGMEATextile News PakistanTrade Relations

China Textile Factory

Image Courtesy: scmp.com

Pakistan has opened its arm to embrace Chinese traders… In order to welcome joint ventures with China, Pakistan has announced an export-led growth package encompassing provision of drawback of local taxes and levies at four per cent on yarn and greig fabric, five per cent on processed fabric, six per cent on textile made ups, seven per cent on textile & garments against realisation of exports.

The two countries are planning to enter into joint ventures for 1,00,000 spindles, 500 airjet looms and fabric dyeing and printing plants in Pakistan. Chinese companies are considering this opportunity as growth has slowed down at home. Apart from textile sectors, Chinese firms are also eyeing to grab the opportunity in cement, steel, energy considered as backbone of Pakistan’s economy.

Also ReadPakistan’s apparel export to Japan zooms

Last year also, a Memorandum of Understanding (MoU) was signed between Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) and China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) during the China Asia Textile Forum 2016 to promote textile and apparel companies in China and Pakistan, and build better trade cooperation between the two.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Sioen Industries buys technical textile manufacturer James Dewhurst Group

In a deal worth £ 44 million, Belgium-based Sioen Industries, has purchased 100 per cent shares of the Lancashire-based technical textiles manufacturer James...

Lenzing introduces new eco-friendly fibre

Austria-based Lenzing Group, manufacturer of textile and nonwovens cellulose fibres such as modal and lyocell, has introduced new eco-friendly viscose with the lowest...

Raymond to spend Rs. 350 crore on expansion

India-based textile and apparel conglomerate Raymond has announced to spend Rs. 350 crore for capex and retail expansion in India and abroad. This...

NGT allows reopening of textile units in Rajasthan (India)

At least 578 textile units in Rajasthan's Pali District that remained closed for flouting pollution norms will be re-opened soon. India’s National Green...

Fair Wear Foundation and Better Work collaborate for garment workers

Collaboration between Fair Wear Foundation (FWF) and ILO Better Work, signed on May 18, will come into effect from June 1 to offer...

SPGPrints bags ‘Best Textile Solution’ award for Javelin Printer

Achieving yet another milestone, SPGPrints has won the European Digital Press Association (EDP) Award for ‘Best Textile Solution’ in the Print and Finishing Category for its Javelin digital textile printer....

Akosombo Textiles bags Textiles Manufacturing Company of the Year Award

Akosombo Textiles Limited (ATL) has been named Textiles Manufacturing Company of the Year (2016) at Ghana Manufacturing Awards (GMA). The criteria for the...

Tintex (Portugal) opts for Brückner line

Portugal-based Tintex Textiles has reportedly opted for stenter line of the leading system supplier and stenter producer Brückner to develop unique solution for...

Indian Textiles Ministry claims Rs. 3,000 crore investment in garment industry

On the occasion of completing three years of Modi Government, Smriti Irani, Union Minister of Textiles held first ever official meet of the Ministry and media in New Delhi. In an...

1,500 textile workers in Ghana may face job-loss

As a result of unsatisfactory performance of the country’s textile industry, Ghana is planning to lay-off textile workers. The Ghana Federation of Labour...