Pakistan to complete 21 years of regular participation at Intertextile Shanghai

KARACHI: At the 25th Anniversary of Intertextile Shanghai Apparel Fabrics, Pakistan will complete its 21 years of regular participation, as 32 Pakistani companies under the auspices of Trade Development Authority of Pakistan (TDAP) are participating in the event.

It may be mentioned here despite over 30 percent rupee devaluation, country’s overall textile sector exports declined 1.42 percent to $13.329 billion in the fiscal year ended June 30, 2019, as higher cost of doing business kept the sector under pressure.

Ministry of Commerce and TDAP are now striving to regain the global textile mrket share as well as tap other markets with prime focus on engineering and technology exports.

China is the biggest trading nation holding top position in world exports at $2.28 trillion making around 20 percent of its GDP and second largest importer of goods with $1.32 trillion. China’s trade potential with its humongous market size, growth rate, consumption capacity and commercial infrastructure makes it one of the most favorable export destinations for Pakistani products.

With 25 years of experience, Intertextile Shanghai Apparel Fabrics remains at the forefront of the global textile industry. The largest apparel fabrics and accessories trade fair will take place from 25th – 27th September 2019 in Shanghai, China co-located with Yarn Expo Autumn.

Beyond Denim, a denim display zone will provide the best place to find international and domestic denim producers, designers, ready-to-wear garment manufacturers as well as cutting-edge technologies and fashion trends.

According to a TDAP report, Chinese market has the potential to absorb all of Pakistan’s exports. The indicative potential exports stand at $5 billion which can be achieved through product focus and market focus strategy.

Supply side issues have their fair weightage and are the major cause of declining exports. Long due sales tax refunds, absence of testing laboratories, unskilled labour, high cost of doing business (business environment, tax & utility), and tariff duties on import of raw material are some of the concerns. These concerns must be addressed and facilitated through establishment of world renowned testing and certification laboratories, and improvement of business environment (ease of doing business). In this regard, some measures such as research &  development, establishment of Special Economic Zones, tax holidays, effective marketing & branding strategy, access to liable & efficient energy, and relaxations offered to foreign corporations in corporate taxes can be availed.

In 2018 Autumn Edition, there were 4,480 exhibitors from 33 countries and 78,131 visitors from 103 countries & regions who participated in ITSA. This year Pakistan will exhibit with 32 companies.

Companies participating in the events includeKohinoor Mills, Mahmood Textile Mills, Nishat Chunian Group, Reliance Weaving Mills, Sapphire Textile, Azgard Nine, Artistic Fabric & Garment Industries, Denim International, Rajby Textile, Rajwani Denim, Soorty Enterprise,  Abtex International, Fazal Cloth, Fabcot International, Global Textile Networks, Hussain Mills, lndus Dyeing & Mfg Co., Mustaqim Dyeing & Printing Industries, Nadeem Textile,  Nagina Cotton, Nisar Spinning, Opulent International, Salman Agencies, Sardar Corporation, Umar Spinning Mills, Xiamen Naseem Trade, SM Denim Mills, Siddiqsons, Indigo Textile and Pak Denim.

Edited by Kazim Rizvi

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