Pakistan textiles trade spurred by Argentina

YarnsandFibers News Bureau 2016-12-06 16:30:00 – Karachi

The Argentinian Ambassador, Ivan Ivanissevich, recently made a visit to the Karachi Chamber of Commerce & Industry. In a meeting held, he emphasized that Pakistani businessmen and industrialists should focus on penetrating into the Argentinian market by efficiently competing with their counterparts from India and China etc.

He said that 60 percent of Argentina's textile products were being imported and the remaining 40 percent were being produced locally whereas the textile clothing imports have also witnessed an upsurge of 27 percent in the first quarter of 2016, which is an opportunity for Pakistani textile producers to benefit from the situation.

President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Former President KCCI Majyd Aziz and KCCI Managing Committee members were present at the meeting.

The Argentinean Ambassador said that although Pakistan has been exporting various products including textile products, clothing, sports and leather goods etc. yet the exporters have to look for more possibilities of enhancing their share in the Argentinean market and they must also focus on branding which was very essential in all the fields.

Commenting on President KCCI's comments about investment opportunities in Pakistan, he opined that there were opportunities for Argentinean farmers to invest and cooperate in the agriculture sector as Pakistan's agriculture sector was not as developed when compared with Argentina.

He added that know-how can be shared on how to improve yield and also assist in improving the irrigation which would result in more yield and less water consumption. The Embassy was also looking at the possibility of sending Pakistani farmers to Argentina so that they could learn from Argentinian expertise and improve their skills.

He noted that during FY15-16, Pakistan's exports to Argentina were recorded at around $52 million as against exports of $44 million in the previous year, showing an increase of 17 percent whereas, Pakistan's imports from Argentina stood at $194 million during FY15-16 as compared to $141 million in the same period last year, reflecting a rise of 37 percent

He suggested that although gradual improvements are taking place but a lot more still needs to be done as huge potential exists to raise the current trade volume at a more rapid pace.

Shamim Firpo said that they also want to promote Argentinean investment in Pakistan and do everything for the development of Pakistan-Argentine business and investment cooperation while stressing need to promote trade, commerce and economic cooperation between the two countries, advocate steps to foster and organize trade and investment delegations, trade fairs, exhibitions, seminars and meetings etc.

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