Pakistani, Chinese firms forge links at Jiangsu B2B event

December 05, 2024 (MLN): Eleven prominent Pakistani companies engaged extensively with 37 major Chinese enterprises at the fourth sector-specific B2B matchmaking event in Jiangsu Province, discussing concrete proposals and exploring opportunities for future collaboration.

The Embassy of Pakistan in Beijing and the Consulate-General in Shanghai, in collaboration with the Board of Investment (BOI), organized this event.

These prominent Pakistani companies included Crescent Bahuman Ltd., Fazal Cloth Mills Ltd., Kohinoor Mills Ltd., Magna Group, Mahmood Group, Matrix Sourcing, Naveena Exports, Nishat, Saritow Spinning Mills Ltd., Shams Textile Mills Ltd., and Servis Long March.

Meanwhile, the major Chinese enterprises were SUMEC Textile Co. Ltd., JD United, Anhui Huamao Textile Co. Ltd., Jiangsu Linafa Textile Co. Ltd., Yuyue Home Textile Co. Ltd., Jiangsu GTIG Eastern Co. Ltd., Zhejiang Giuseppe Garment Co., Fortune Tech, Shenghong Textile, Wujiang Changyuan Textile Co. Ltd., Jianfa Living Material Co. Ltd., and Orient Group Shanghai Textile Co. Ltd., discussing concrete proposals and exploring avenues for future collaboration.

Held in Suzhou, a renowned hub for the textile industry in China, the event focused on fostering joint ventures, trade, and investment partnerships between leading Pakistani and Chinese textile and apparel enterprises.

The event included an opening session, individual B2B meetings, networking opportunities, and a closing session.

In his remarks, Ambassador Khalil Hashmi highlighted the strategic advantages of investing in Pakistan’s textile sector.

He emphasized Pakistan’s global market access, long-standing expertise, and vertically integrated supply chain.

Highlighting preferential access under the China-Pakistan Free Trade Agreement (CPFTA), the European Union's GSP+ scheme, and the UK’s Developing Countries Trading Scheme (DCTS), he stated, “Investing in Pakistan opens doors to some of the world’s largest and most lucrative markets.”

Ambassador Hashmi expressed his gratitude to the Board of Investment, the Consulate-General of Pakistan in Shanghai, and all participating companies for their concerted efforts in making the event a success.

He encouraged businesses to capitalize on the opportunities presented and forge mutually beneficial partnerships.

Secretary Board of Investment, Rahim Hayat Qureshi, delivered a detailed presentation outlining Pakistan’s robust investment policies and facilitation mechanisms tailored for the textile sector.

He elaborated on a range of incentives, including streamlined regulatory processes, tax benefits, and infrastructure support within Special Economic Zones (SEZs).

Qureshi also emphasized Pakistan’s adaptability to global textile trends, making it an ideal destination for innovation-driven investments.

The event also featured a success story presented by Omer Saeed of Servis Long March and his Chinese joint venture partner.

Their partnership exemplified the high returns and economic benefits of Pakistan-China collaborations, serving as an inspiration for participants to pursue deeper partnerships and long-term opportunities.

Participants agreed to maintain ongoing communication, exchange further notes, and schedule follow-up visits to build on the discussions and opportunities identified during the matchmaking meetings.

This initiative is part of a series of Prime Minister-directed sector-specific events designed to strengthen Pakistan’s industrial base and bolster economic ties with China, reflecting the government’s commitment to advancing Pakistan-China All-Weather Strategic Cooperative Partnership.

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