19th International Textile Asia Exhibition inaugurated in Karachi

The 19th International Textile Asia Exhibition has been inaugurated in Karachi where more than 450 companies are showcasing 650 products at 800 stalls in the three-day exhibition.

About 1200 foreign delegates, including from China are participating in the exhibition. China, Korea, France, Germany, Italy, Vietnam, Turkmenistan are showcasing the items at the expo to attract the visitors. The exhibition has been organized by e-Commerce Gateway.

Federal Commerce Secretary Younus Dagha inaugurated the expo. While talking to media after the inauguration, the commerce secretary said that Pakistani products were facing high cost. He said that the government was considering reducing gas and water tariffs to lower production cost. The federal secretary said that Pakistan needs foreign investors for achieving economic targets.

The federal secretary hoped that exports would reach $23 billion during the current fiscal year.

Commenting on Pak-China Free Trade Agreement (FTA) he said that due to rising interest of China in ASEAN countries, Pakistan had failed to avail benefits of the agreement. He said that Pakistan was reviewing FTA with China.

He further said that Pakistan was trying to overcome massive under invoiced imports from China.

Younus Dagha said that high cost of business was major hurdles in improving exports. He said that the local textile products are unable to match the quality of regional economies.

Dr. Khursheed Nizam, President, E-Commerce Gateway said China Pakistan Economic Corridor (CPEC) had opened doors for foreign companies in Pakistan. Now foreign companies are taking interest in Pak exhibitions. Inamullah Khan, Secretary, Trade Development Authority was also at the event.

Ms. LI Yang, vice division director, department of commerce, Zhejiang province, China at the exhibition said that CPEC was the true reflection of friendship between the two countries.

She said that at the exhibition that the economy of Zhejiang province is about one trillion dollars. It is the first time that over 150 companies from Zhejiang province are participating in the textile exhibition.

Ms. LI Yang hoped that the bilateral trade between the two countries will boost further in the days to come.