EU garment-makers eye Pakistan for joint ventures: The News

By By our correspondent

KARACHI: Federal Textile Adviser Dr Mirza Ikhtiar Baig, on his return from European Union countries, has said EU garment manufacturers are seriously looking to Pakistan to form joint ventures for supplying products to their chain of stores. The interest was prompted by current recession and increasing cost and wages, he said.

According to a spokesman for the adviser, during the visit Baig met Senior Executive Werner International Nice (France) Nicola Monti. It was one of the largest and renowned textile consultants of the world having more than 40 years of experience in dealing with textile and apparel industry of Pakistan, India, China and 65 other countries.

Monti told Baig that EU garment units were moving from the US and Europe to China and India and brand manufacturers were looking for more routes for supplies and were interested to have joint ventures in Pakistan.

Baig said Pakistan had achieved high growth in textiles and apparels but had a low share in the international market. China topped the US market with a share of 36 per cent followed by Bangladesh 21 per cent, India 18 per cent, Morocco 19 per cent and Pakistan 13 per cent. South Korea has lost 20 per cent of the US market.

In the European market, China topped again with a share of 29 per cent, Vietnam 28 per cent, India 19 per cent and Pakistan only 1.5 per cent while the Philippines had lost 11 per cent of the market.

Monti informed Baig that Pakistani garment manufacturers could cut their cost up to 45 per cent in sewing by improving efficiency.

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