Staff Report
ISLAMABAD: The All-Pakistan Textile Mills Association (APTMA) has requested the US Ambassador to Pakistan Donald Blome to play his role in the early finalization of Pakistan – US Free as well as Preferential Trade Agreements (FTA/PTA) along with the promotion of US cotton linkages with Pakistan’s textile industry.
Officials from the APTMA said this amid the visit of the US Ambassador to the APTMA office on Monday. Mazhar Hussain Mirza (CCI), Dr. Gohar Ejaz & Hamid Zaman (APTMA) welcome the US Ambassador, Donald Blome
Mazhar Hussain Mirza, CCI Representative (Pakistan) presented a brief introduction on the scope of Cotton Council International. He also elaborated on “How CCI is helping the textile industry in Pakistan by providing various services.” Mazhar Hussain Mirza has also mentioned the importance of the future trade of cotton due to the shortage of cotton in the country, the textile industry is looking forward to buying about 5 million bales in near future.
Dr. Gohar Ijaz also hailed CCI’s services and determination to promote US Cotton in the Pakistan textile industry and offered to work more closely to maintain long-lasting ties with CCI by working together as partners in promotional activities.
Chairman APTMA North Zone, Hamid Zaman remarked that both countries have huge potential to work together. He appreciated the optimistic approach of the US ambassador and expressed the hope that the envoy would play his role in building up bilateral trade and investment relations between the two states.
He responded to the concerns raised by an ex-chairman of the Association, Aamir Fayyaz that the US retailers were avoiding opening up their buying houses in Pakistan and highlighted the issues related to the expansion of trade and investment relations, and expressed the hope for a change in the situation with further improvement in the security situation of Pakistan. He hoped the government to overcome issues confronting the US investment in Pakistan.
US Ambassador hopes to boost Pak, US trade
Donald Blome, U.S. Ambassador said, “I am deeply overwhelmed with the response from the textile industrialists and appreciated the efforts of the close relationship of CCI with textile mills in Pakistan.”
US Ambassador, Blome acknowledged the great potential to work together in the field of cotton and textile and proposed the APTMA leadership focus on continuing engagements and dialogue with their American counterparts.
While admitting quite candidly that Pakistan was the most cost-competitive in the region, Blome emphasized addressing the issues related to taxation, repatriation of profits, the unpredictability of policies, the legal system, etc.
Meanwhile, Senior Vice Chairman APTMA, Kamran Arshad during his presentation said that the US is Pakistan’s largest trade partner with a total bilateral trade of US$ 9.85 billion in 2021-22.
He added that the total exports of Pakistan to the US stood at $6.8 billion as compare to imports of $3.0 billion from the US. The USA is the largest source of foreign direct investment in Pakistan coupled with remittance of US$ 3.1 billion from the USA to Pakistan, he maintained.
