PRGMEA, CCCT to give a practical shape to their new JVs

To promote cooperation between Pakistan and Chinese textile and apparel companies, The Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) and China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) had signed MoU in March 2016. The two associations have decided to give a practical shape to the MoU.

It is the first time that a Pakistani garment sector body signed such an agreement with the overseas stakeholders for strengthening mutual trade of garment and textile.

The decision was taken in a meeting of PRGMEA office-bearers and CCCT delegation in Lahore. The meeting was also attended by Commerce Minister Khurram Dastgir and Board of Investment (BOI) Chairman Dr Miftah Ismail.

The CCCT delegation, led by its vice chairman Wang Vu, visited Pakistan on the invitation of PRGMEA to carve out plans and strategies for implementation of the last year’s MoU.

Dastgir and officials’ team of his ministry also briefed the Chinese delegation about the overall situation and development trend of Pakistan’s garment sector and textile industry. He urged the foreign investors to take advantage of lucrative investment policy of Pakistan by investing in its various sectors to the mutual benefit of all.

On the occasion, BOI Chairman Dr Miftah said that all sectors of economy were open for investment and level-playing field was provided to local and foreign investors.

Addressing the meeting, PRGMEA Central chairman Ijaz Khokhar said that interaction with CCCT delegation will help in giving practical shape to the previous MoU. They hope to reach towards more simplified and prompt result bearing operational strategies that will lead them to the implementation of the MoU for establishment of joint ventures, exchange of information and technology, fairs, training and visits from both sides.

Apparel industry of Pakistan is optimistic that this meeting will help building mutually beneficial dimensions for both sides and they have chalked out the road map for regular meetings in future which would strengthen bonding between CCCT and PRGMEA.

PRGMEA appreciates efforts of both the governments for paving the track that cads towards economic growth of both the nations by signing a landmark CPEC which is undoubtedly the mega project so far, that will trigger numerous opportunities of economic cooperation and collaboration for non-government sector as well.

PRGMEA initiated agreement with CCCT aiming to expand cooperation between Pakistan and Chinese apparel industry by exchanging marketing strategies through close liaison between PRGMEA and CCCT on permanent basis.

CCCT Vice Chairman Wang Vu said that Pakistan being one of top five cotton producers has great potential for growth of value-added garments and apparel industry. He invited PRGMEA to lead delegation to China for B2B meeting at Canton Fair being held at the end of October 2017. CCCT is one of the organisers of Canton Fair, having 12,000 members and most of them will be in Canton Fair.