Textile Asia 2018 concludes with deals worth $175m

A number of Memorandum of Understandings worth $175 million in total have been signed for joint ventures to help develop the textile sector in Pakistan on modern lines, said E-commerce Gateway President Dr Khursheed Nizam.

Speaking at Asia’s biggest international trade exhibition, “Textile Asia-2018”, jointly organised by the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) and E-commerce Gateway, Nizam claimed that more than 55,000 people had visited the trade fair from different sectors of the textile industry, during the last three days.

He was of the view that the agreements signed will help develop the textile sector in Pakistan on modern lines by exchanging innovative ideas with the industry’s leaders from around the world. PCJCCI President SM Naveed informed that Chinese companies had shown interest in relocating production of their textile, garment and accessories to Punjab, which has an investment of at least $25 million for each unit.