A trade accord between Pakistan, China, and Vietnam could help claim 50 per cent share of the global textile market.
China’s share in world textile exports is 36 per cent. Vietnam contributes 12.4 per cent and Pakistan seven per cent. So a trilateral products’ specific agreement between the three countries can make a huge difference.

Pakistan’s regional competitors are upping the ante on textile exports to make inroads into more global markets, while Pakistan, which has almost fallen out of the competition, has even regressed in the worst possible ways owing to a number of crippling hurdles.

Bangladesh is eyeing 50 billion dollars worth of textile exports. India is targeting an increase of 30 billion dollars. Pakistan’s total exports have decreased from 25 billion dollars to 20 billion dollars in which the textile sector’s share is 61 per cent.

Pakistan is the only country in the region that has seen its total textile exports decline by ten per cent between 2011 and 2018. Problems faced by the textile sector include the high cost of doing business, multiple taxes and surcharges, low production of cotton bales, limited supply of raw materials, and power and energy shortages.

Pakistan’s textile exports rose 7.2 per cent during the first eight months of the current fiscal year.