An MoU was signed between the Ministry of Commerce China, Weihai and the All Pakistan Textile Mills Association (APTMA)on Saturday to explore the potential of joint ventures and investment opportunities in textile sector of Pakistan.

A 20-members Chinese delegation from the Ministry of Commerce Weihai, China visited the APTMA Punjab headed by Ms Zhang Buwen of Shandog Hushan Group was welcomed by Chairman APTMA Punjab Aamir Fayyaz.

The Ministry of Commerce China, Weihai has invited the APTMA to visit China in May this year.

While making a detailed presentation, Chairman APTMA Punjab highlighted the significance, structure, strength and sustainability of the textile industry in Pakistan.

He said that they is great potential for the foreign investment in textile industry of Pakistan, as it enjoys the GSP plus market access to the EU. Converting of surplus basic textile into clothing carries a potential of $15 billion increase in exports from Pakistan.

Chairman APTMA offered to act as focal organization to facilitate match making of Chinese investors with local textile groups under the joint ventures initiative. The Chinese delegation agreed to the offer and appreciated the spirit and expressed the hope that both sides would help each other in expansion of trade and investment.

Head of the visiting Chinese delegation thanked the APTMA leadership for a detailed presentation and hoped that it would play pivotal role in the expansion of trade and investment between the two countries.

The China-Pakistan Economic corridor sees enhancing trade and bilateral relations further to new horizons.