CNTAC, BOI Sign MoU to Develop Textile Industry Park in Pakistan
— December 8, 2024
BEIJING (AIA) The China National Textile and Apparel Council (CNTAC) and Pakistan’s Board of Investment (BOI) have signed a landmark memorandum of understanding (MoU) during the 2024 China Textile Conference in Keqiao, Shaoxing.The agreement aims to establish a state-of-the-art textile industry park in Pakistan, fostering bilateral trade, technology transfer, and capacity-building in the sector. Pakistan’s ambassador to China, Khalil Hashmi, hailed the MoU as a robust framework for collaboration that will transform the textile and apparel landscape.Speaking at the conference, Ambassador Hashmi emphasised the significance of the partnership, noting that Pakistan’s textile sector serves as the backbone of its economy and a major contributor to exports. “As the second-largest global supplier of cotton cloth and the fifth-largest exporter of cotton, Pakistan offers unmatched potential for collaboration. Our strategic location, skilled workforce, and vertically integrated industry make Pakistan an ideal partner for Chinese enterprises,” he stated.The conference focused on four core themes: innovation environment, materials, artificial intelligence, and production processes. Delegates discussed leading trends in industry innovation, promoting the optimisation of the global textile supply chain.Highlighting the significance of the event, Hashmi said Pakistan was granted exclusive privilege as the only foreign participant at the conference. He added that the Secretary of BOI signed the MoU with CNTAC’s Vice President, securing a milestone for the development of textile parks in Pakistan.The ambassador also expressed gratitude to Shandong Ruyi Group for its support, underscoring the importance of Pakistan-China cooperation in advancing the textile sector.