Textile Asia was held in Pakistan from March 27 to 29, 2018. More than 450 companies showcased 650 products at the exhibition. Exhibitors from Korea, France, Germany, Italy, Vietnam, Turkmenistan and Portugal were present. The event witnessed 75,000 trade visits.
Chinese companies participated in large numbers and they made deals worth millions. Many Chinese companies expressed their willingness to relocate textile factories to Pakistan. The Chinese are planning to move with the latest technology and skills by making joint ventures with local companies.
The presence of Chinese companies in Pakistan is increasing following the initiation of the China-Pakistan Economic Corridor. This year Zhejiang province was the most prominent exhibitor with 150 companies displaying their products. European companies also displayed high-tech textile machinery at the exhibition. A company from Portugal displayed high quality threads for denim and successfully achieved business deals with local manufacturers.
Indian textile machines were also displayed at the exhibition through Pakistan representatives. Textile Asia is a landmark event, which has provided an effective podium for joint ventures and collaborations among the local textile industry and international entrepreneurs.
Pakistan is considering reducing gas and water tariffs to lower production costs and make local companies competitive in the international market.