China’s Qingdao Haijia Machinery the largest R&D and textiles manufacturer, is in talks with Pakistan to set up a plant in Karachi. Pakistan is one of the major countries to have a monopolistic trade relationship with China. As major foreign investment from western powers like US, UK and other major European Union countries are declining the country is facing a lot of problems in maintaining a stable economy.

Pakistan is also facing extreme terrorism and corruption due to which major western countries are shifting its base to Bangladesh. Despite all these factors Qingdao Haijia Machinery, is looking to invest. At the ongoing International Textile Machinery and Garment Technology Exhibition (IGATEX) 2017 the Chinese company conveyed its interest in this venture. The company is planning to make their water jet and air jet loom machines in Karachi. The company is waiting for the trade policies to become feasible to establish the manufacturing plant here,

Meanwhile The Karachi Cotton Association (KCA) has appealed to the government to review a reported proposal regarding the levy of duty and taxes on import of raw cotton. Cotton import was crucial for the textile industry to meet the requirements of basic raw material, KCA officials said tax levy on imported cotton would considerably increase their cost of doing business. Free exports and imports of cotton without any qualitative restrictions in the coming years will safeguard the interest of all sections of the cotton business.