Monday November 29, 2021

Pak exports to China continuously surging despite pandemic

October 16, 2021

ISLAMABAD: Pakistan’s exports to China have shown impressive double-digit growth in the fiscal year 2021, going above $2 billion. Impact of the FTA phase 2 between the two iron brothers is evident from the fact that Pakistan’s exports to China are continuously surging despite the pandemic and there is still huge potential to be explored.

“Pakistan largely drives its competitiveness from home grown cotton. Unfortunately local cotton production is declining and has to rely on imported cotton, says a report published by Gwadar Pro on Friday.

Hopefully, with Chinese intervention in agriculture R&D, technology and machinery, we will be competing all again,” Mr. Engn: Bilal Jamil, Senior Vice President, APBUMA said in an interview with Gwadar Pro.

Pakistan’s home textile sector largely comprises of SMEs and is directly dependent on local cotton yarn supply which relies on local cotton production.

Engn: Bilal Jamil explained that Pakistan’s cotton production has steeply declined over the past years. “A sustainable cotton production is imperative to the competitive advantage of textile industry.

Last year, yarn price steadily increased due to shrieked cotton production and increases yarn demand which hampered home textile sector