Business news

MINSK, 27 March (BelTA) – Two large delegations of textile producers from Pakistan are currently in Belarus to hold talks on the cooperation in light industry and establishment of joint ventures to manufacture textile products and related goods. The visit will run from 27 to 31 March, BelTA learned from the Belarusian Embassy in Pakistan.

The federal delegation of businessmen is led by Hassan Iqbal, Secretary of the Textile Industry Ministry of Pakistan. The delegation of Punjab Province (Pakistan’s center of textile industry) is headed by Sheikh Alauddin, Punjab Provincial Minister for Industries, Commerce and Investment. The Pakistani delegations will hold talks with representatives of the Council of Ministers of Belarus, the Industry Ministry, Bellegprom Concern and Belneftekhim Concern, and the Belarusian Chamber of Commerce and Industry.

The Pakistani textile manufacturers will arrange stands and hold presentations at the international expo BelTEXlegprom 2017. Spring that will take place in Minsk from 29 to 31 March. They will hold negotiations with potential Belarusian partners.

Pakistan is among the world’s leading cotton producing countries. It has a well-developed textile industry. As a result of a series of talks and presentations that Bellegprom Concern held in 2015 and 2016, the Pakistani side started to show stable interest in setting up joint ventures in Belarus. Considering the textile manufacturing capacities of the two countries, Belarus has a good chance of attracting Pakistani investment and textile production practices. However, the process requires some time.

Today the activities of Belarusian textile manufactures in terms of the cooperation with Pakistan are focused on developing ties with Pakistani textile enterprises to purchase textile products that are not produced in the Eurasian Economic Union for the needs of Belarusian clothing companies. There are good prospects for cooperation in the purchase of Pakistani cotton fiber, provided that the Pakistani side offers good delivery terms. For dozens of years, light industry has been a major contributor to the development of Belarus’ industrial sector. Its growth is achieved thanks to the use of local raw materials (flax fiber, chemical fiber, hide), highly skilled workforce, and the big consumer market that includes the market of Belarus and neighboring regions. As a result, all regions of Belarus have light industry enterprises (a total of some 500). These enterprises are export-oriented, same as the Belarusian economy in general.

Belarus knows Pakistan’s centuries-old light industry traditions, first of all, in the production of cotton yarn and fabric and the manufacture of leather goods and clothing for export. Carpet making is a fast-growing sector. Pakistan’s light industry is also export-oriented. Belarus would like to establish practical cooperation with Pakistani light industry companies, set up joint ventures, and invite Pakistani companies to participate in the effort to upgrade Belarusian companies.