KARACHI: Adviser to Prime Minister on Commerce and Textile Industry, Production and Investment Abdul Razak Dawood on Wednesday expressed concern over low cotton production and crop contamination.
Talking to textile industry leaders and exporters at PHMA House, the adviser said production cannot be increased without introducing new cotton seeds. Similarly for contamination-free cotton, ginning units have to go for better technology, he added.
Also Read: Cotton prices maintain bearish trend
He said the issue of wide trade gap between Pakistan and China was taken up during the recent visit of Chinese foreign minister. After detailed discussions, both sides agreed to work on narrowing down the trade gap, he added. Pakistan’s imports from China are presently at $15.38 billion and exports at $1.5bn only.
The adviser informed the textile leaders that the number of preferential tariff lines with China has now been increased from 57 to 313. Also discussions were under way for revising the Free Trade Agreement (FTA) with China and Pakistan is seeking concessions equal to Asean countries.
On the occasion, he said a large buying mission from China is arriving on Oct 8. The adviser assured that no negotiations will take place without consultation with trade and industry.
Razak said a delegation headed by him will leave for China on Nov 4 with the aim of luring Chinese investors.
He said Pakistan’s tariff policy needed to be rationalised. Responding to a question, he said the Chinese foreign minister assured to provide special corridor and space to Pakistan in bilateral trade which in the past was not fully explored.
Published in Dawn, September 27th, 2018