The All Pakistan Textile Mills Association (APTMA) last week signed a memorandum of understanding (MoU) with the governor of Bukhara in Uzbekistan to build a textile complex there. The planned complex would cover 30,000 hectares and will have a vast space reserved for cultivating cotton. Spinning, weaving, processing and garment units will also be built at a cost of $100 million.
APTMA leader Gohar Ijaz Ijaz hoped that Pakistan’s cotton exports would reach $18 billion by next year, according to Pakistani media reports.The All Pakistan Textile Mills Association last week signed a memorandum of understanding with the governor of Bukhara in Uzbekistan to build a textile complex there. The complex would cover 30,000 hectares and will have space reserved for cultivating cotton. Spinning, weaving, processing and garment units will also be built at a cost of $100 million.#
On an average, Pakistan exports textile products worth $15.5 billion from a million tonnes of cotton it produces annually, while Uzbekistan, exports textile products worth $2 billion from the same quantity of the crop.
Uzbekistan and Pakistan recently agreed to finalise a preferential trade agreement (PTA) within three months to boost bilateral trade volume. At the 6th meeting of the Uzbek-Pakistani Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) in Tashkent, both sides agreed to form joint working groups on several sectors to boost cooperation.
The meeting was co-chaired by Uzbek deputy prime minister and minister of investments and foreign trade Sardor Umurzakov and Pakistan’s commerce adviser to the prime minister Abdul Razak Dawood.
Fibre2Fashion News Desk (DS)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
