ISLAMABAD, Nov 18: A high-level nine-member delegation left here on Sunday for Beijing to seek Chinese investment in garments, seafood and footwear in a country-specific area in Pakistan besides expanded market access for textile exports.

Commerce Minister Abdul Razak Dawood is leading the delegation that comprises seven private sector textile manufacturers and exporters.

Talking to journalists at Islamabad airport, the minister said that Pakistan wanted to establish a strategic alliance with China through increased cooperation, particularly in the textile sector and secure strong market access for Pakistani polyester, grey cloth, leather products and seafood in the aftermath of historic visit of Chinese premier Zhou Rongi early this year.

Mr Dawood said that China had already agreed to provide $25 million credit line for the import of textile machinery this year and “now we have to work out modalities to use this facility.”

“Once this $25 million is utilized, another $25 million would be available and would finally go up to $100 million,” said the minister. This area would also come under discussion during the visit, he said.

He said Pakistan wanted maximum investment from Chinese companies in view of the recent duty exemptions and market access granted by the European Union to Pakistani products. “We want Chinese companies to invest in Pakistan and then export textile products to European countries,” said the minister.

He clarified that during his four-day visit to Beijing, the question of free trade agreement would not come under discussion as the bilateral trade and investment did not reach that stage.

The delegation will also hold discussions with importers in Hong Kong besides deliberations with mainland China investors, manufacturers and exporters mainly in the fields of footwear, seafood and garments where China has acquired high level of expertise.

The minister said that Pakistan had 2.5 lakh ton of surplus polyester at the moment that it wanted to export to China. If we are able to book orders for this surplus then Pakistani industry could reach the expansion mode. China was importing around one million tons of polyester staple per annum and bilateral trade between the two countries stood at around $1 billion per year.

The minister said that Gwadar port and Thar coal project were very much on track and Chinese companies in the petroleum sector “have now started coming back after having left the country in the post-Sept 11 situation.”

He said that China was now emerging as the largest market in the world following its entry into the World Trade Organization and opening up of this market provided a lot of competition and opportunities. Expansion in Chinese market coupled with Pakistan’s long-standing relationship, exporters would have to work hard to capture that market, said the minister.

He hoped that the two sides would find out ways to increase trade and investment to their mutual benefit.