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China’s textile millers looking at repositioning avenues in Pakistan

China’s textile millers in the Shandong province are in talks with their Pakistani counterparts for a possible repositioning in Pakistan, said Pak China Joint Chamber of Commerce and Industry’s (PCJCCI) newly-elected president Wang Zihai. He further said that when it comes to investing in the region, Chinese millers prefer Pakistan over Bangladesh or Vietnam.

Wang said Pakistan’s textile sector would be able to upgrade its dilapidated technology and China can have access to European markets through the country’s Generalised System of Preferences (GSP) Plus status. Wang, who headed a delegation of Chinese companies in Punjab, said China-Pakistan Economic Corridor (CPEC) will bring other investment avenues as well. He hoped that fresh investments and joint ventures between different business groups of Pakistan and other nations due to the CPEC initiative could push the investment figure to $100 billion in the future.

Currently, there are around 700 small, medium and large scale Chinese companies working in Pakistan and the number is likely to increase in the coming years. The PCJCCI is currently examining different sectors like electronics, automotive, education exchange programs, insurance, agriculture and textile for means to establish a joint link.

 
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