Chinese eye Pakistani textiles operations
Delegations of Chinese investors, textile and apparel companies have reportedly been eyeing Pakistan, as the south Asian country prepares to reap the benefits afforded by the Generalised System of Preferences trade deal.
In December, the European Commission announced Pakistan would be included in the GSP+, which reduces import tariffs to zero – making it an attractive source of garments and textiles for European companies and retailers.
China-based Shandong Ruyi Group has acquired majority shares in Masood Textile Mills, Faisalabad, according to reports, while other investors are investigating setting up spinning, weaving and garments facilities.
SM Tanveer, chairman of Punjab Industrial Estates Development and Management Company, said there are currently 24 chief operating officers in the region looking to set up a viscose plant.
