China National Textile and Apparel Council (CNTAC) has signed an MoU with Pakistan’s Board of Investment (BOI) to develop textile parks in Pakistan.
As per a report by China Economic Net, the MoU was signed at the 2024 China Textile Conference in Keqiao, Shaoxing. Titled, ‘How to take science and technology, fashion and green; as a guide to boost productivity and shape the industry’s future, the report offers a robust framework to develop these textile parks to enhance bilateral trade, foster technology transfer and enhance capacity
Focusing on four core topics ‘Innovation Environment, Materials, Artificial Intelligence, and Production Processes, the Shaoxing conference discussed leading innovative industry trends to promote, transform and optimise the global textile chain.
A backbone of Pakistan’s economy, textile industry is a major contributor to its exports. Being the second largest supplier of cotton cloth and fifth largest cotton exporter, Pakistan offers unmatched potential for this collaboration.
Its strategic location alongwith a skilled workforce and vertical integration positions Pakistan as an ideal partner to these Chinese enterprises, states Khalil Hashmi, Pakistan’s Ambassador to China.
