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Related Keywords: digital printing technology, fashion and retail industries, grow at rapid pace, growing demand, International Expo Consults, reduce time to market, SGI Dubai, showcased textile printing machines, Textile printing industry, UAE, world fourth largest trading centre of textile

UAE holds the world's fourth position as largest trading centre of textiles, generating an approximate $17.5 billion annually. With the growing demand within the fashion and retail industries, the country’s textile printing industry is set to gather momentum to grow at a rapid pace within the next 4-5 year, said Mr. Abdul Rahman Falaknaz, Chairman of International Expo Consults.

Related Keywords: bilateral trade, business climate, largest trading partner, Pakistan, Pakistan total export, public sector enterprise, Textile, trade regime, UAE

The UAE is Pakistan’s largest trading partner. Trade between the two countries can expand further if there is improvement in the business climate, the trade regime, and public sector enterprises to increase foreign and domestic private investment and boost economic growth, said Ashraf Wathra, Governor of State Bank of Pakistan at the conference held in Dubai by IMF and Pakistan Minister of Finance.

The bilateral trade between UAE and Pakistan stood at $9 billion (Dh33.03 billion) in 2014 and there is a vast potential to boost trade and business relations between the two countries.

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The UAE is the world’s third largest exporter of textiles, after USA and UK, according to study conducted by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), Kolkata.

The UAE exported textiles worth $1623.76 million, representing 7.75% share of the global export market .

Mr. Midhat M. Abu Ghazaleh, CEO, Abughazaleh Trading Company, (ABCO) said that of the total textile global exports of over $ 20939.80 million, the UAE commands a share of 7.75%, which reflects strongly on the development of the country’s textile industry.