Danish companies keen to form JV with Pak textile industry

YarnsandFibers News Bureau 2017-11-16 11:00:00 – Faisalalbad

Danish government showing keen interest to enhance bilateral trade with Pakistan, in various sectors including textile and knitwear. Denmark Ambassador to Pakistan Rolf Michael Hay Pereira Holmboe said on Wednesday speaking to traders at the Pakistan Hosiery Manufacturers and Exporters Association (North Zone) office, said that the Danish companies would sign joint ventures in different sectors with Pakistani companies to enhance bilateral trade.

The ambassador emphasised that he would talk to Danish companies to encourage them to work with Pakistan’s corporate sector in knitwear manufacturing, adding advanced technology would be introduced in Pakistan which would help increase production, improve quality of products and cut production cost.

He added that Pakistan was a peace-loving country and conditions were ripe for boosting trade relations.

Earlier, PHMA North Zone Chairman Mian Naeem Ahmed highlighted that PHMA was a representative body of knitted cloth manufacturers and exporters which had 1,600 member companies across Pakistan that were providing employment to around half a million workers.

The association is actively providing advisory services to the government on textile-related matters and to help frame policies for improvement in the value-added textile industry.

The association members earn around $3.2 billion per annum through exports from Pakistan.

He pointed out that several well-known Danish brands were popular in Pakistan and some Pakistani companies were also famous in Denmark.

He said that Denmark had played an important role in getting Pakistan the Generalised Scheme of Preferences (GSP) Plus status from the European Union, which allowed duty-free export of many products.

GSP Plus has proven vital for Pakistan’s garment industry, but Pakistan and Denmark had failed to fully capitalize on the existing trade potential.

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