A major step toward bolstering trade and technology exchange between Pakistan and China is underway as the China National Textile and Apparel Council (CNTAC) and Pakistan’s Board of Investment have signed a memorandum of understanding (MoU) to establish textile parks in Pakistan. The parks will be developed by Ruyi Shandong Group, a leading Chinese textile and clothing manufacturer, according to a statement by Pakistan’s Ambassador to China, Khalil Hashmi.
The agreement was finalized during the China Textile Conference held in Shaoxing, China, earlier this week. The event brought together key players in the global textile industry to discuss innovation in materials, artificial intelligence, and production processes to optimize the global textile supply chain.
“The textile sector is the backbone of Pakistan’s economy and a major contributor to its exports,” said Ambassador Hashmi. He highlighted that these parks would enhance bilateral trade, drive technology transfer, and strengthen Pakistan’s textile industry capacity.
The textile parks will be built in Sindh and Punjab provinces and are projected to generate up to $5 billion in annual textile exports. The initiative, expected to employ up to 500,000 people, marks a significant step in the modernization of Pakistan’s textile industry. The foundation stone for the parks is set to be laid by the end of this year.
Ruyi Shandong Group, known for its global expansion through strategic acquisitions and investments, previously contributed to Pakistan’s infrastructure through a coal power plant under the China-Pakistan Economic Corridor (CPEC). This $65 billion collaboration between the two nations has focused on energy, infrastructure, and connectivity projects to drive Pakistan’s economic growth.
The establishment of these parks aligns with Pakistan’s efforts to attract foreign investment and foster innovation in its textile industry, further strengthening its role as a key player in the global textile market.
