Pakistan, Bangladesh strengthen textile trade ties with landmark MoUs & $12.5m in orders

KARACHI: Key milestones were achieved in strengthening trade ties between Pakistan and Bangladesh textile sectors during a recent visit, marked by the signing of three crucial Memorandums of Understanding (MoUs). The Pakistan Readymade Garment Manufacturers & Exporters Association (PRGMEA) signed MoUs with both the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Bangladesh Textile Mills Association (BTMA), while the Pakistan Hosiery Manufacturers Association (PHMA) signed an MoU with the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

Further demonstrating the growing interest in bilateral trade, the Export Promotion Bureau (EPB) of Bangladesh expressed a strong interest in forging an MoU with the Trade Development Authority of Pakistan (TDAP). The Bangladesh Garment Buying House Association (BGBA) also conveyed their intention to explore opening an office in Pakistan.

The visit facilitated over 250 productive Business-to-Business (B2B) meetings, resulting in confirmed orders for yarn and fabric amounting to USD 2.5 million. Additionally, sample orders totaling an estimated USD 10 million, subject to sample approval, were placed, indicating significant future trade potential.