LAHORE:All Pakistan Textile Mills Association (APTMA) Chairman (Northern Zone) Kamran Arshad briefed Ms. Kristin K. Hawkins, United States consul general in Lahore, on the prospects and needs of Pakistan’s textile sector so as to find more ways and means to foster bilateral trade and economic relations between the two countries.
APTMA Vice Chairman Ahmad Shafi, former chairmen Adil Bashir and Hamid Zaman, and Secretary General Raza Baqir, along with senior members of APTMA representing leading textile groups, were also present.
They discussed the enormous potential to work together in the field of cotton and textile, besides expanding trade and investment relations in other focused areas. Both sides were of the view that Pakistan has strong potential to grow in textile and other sectors.
Giving a detailed presentation on textile industry of the country, the APTMA chairman pointed out that Pakistan’s domestic cotton production had declined over the years and even this year more than three million bales migh
t be required to be imported.
He said the major supplier of cotton to Pakistan was the USA, and the cotton imported from there would be used to make US$8 billion worth of textile products, primarily to be exported to the US. He said the availability of cotton and other inputs was essential for economy of Pakistan, as textile constitutes 62 per cent of total exports.
Kamran Arshad emphasised continuous operations of textile industry as any shutdown of textile sector would render millions jobless, creating a catastrophic situation. He stressed evolving a mechanism to import the US cotton under GSM-102 against export of textile products to the US. He added that proceeds of Pakistan textile export to the US might be used as collateral through the mechanism of an escrow account whereby the liability was deducted from the export proceeds of Pakistan textile import into the US.
About the strength of the textile industry in Pakistan, Kamran Arshad said the US was Pakistan’s largest trade partner with a total bilat
eral trade of US$9.85 billion in 2021-22. According to him, total exports of Pakistan to the US stood at US$6.8 billion against total imports of $3.0 billion from the US. He stressed promotion of the US cotton linkages with Pakistan textile industry as well as promotion of toll manufacturing in Pakistan by the US textile industry.
According to him, there is a need for technology transfer to Pakistan for high yielding cotton seed and synergies with the US cotton research institutes for better quality. He also sought capacity building of agricultural research institutions in Pakistan and technology transfer for cotton traceability. He said the US should facilitate entry of international seed companies with transgenic technologies besides introduction of improved, genetically modified, and certified seed. He also spoke about the importance of establishing joint ventures between Pakistan and the US investors.