KARACHI, Sept 2: The Vice Chairman of the Export Promotion Bureau (EPB), Abid Javed Akbar apprised the US buyers of leading brand names on the upgradation of the Pakistani textile industry and its export competitiveness ahead of the quota-free regime beginning from January 1, 2005.
The EPB Vice Chairman is currently visiting Las Vegas for establishing networking with the global buyers of textile and garments at the Magic Marketplace and the ASAP Show.
Speaking at a business dinner arranged by Frank Yuan, the CEO of the ASAP Outsourcing Show which was attended by leading buyers and suppliers, Abid Javed Akbar informed them about the initiatives the government has announced to enhance its export capabilities.
He also held extensive sessions with the major brand names of the US and highlighted the business and investment opportunities for American investors and buyers in the wake of upgradation of Pakistani textile industry under the Balancing-Modernization- Replacement (BMR).
Considering Pakistan as a major textile player with specific reference to the upcoming WTO regime, the participants evinced keen interest in the deliberations and information given by the Vice Chairman.
He also held a detailed meeting with Sayed Sheerazie, the CEO of the Cotton Guild Corporation, US. Sheerazie made a detailed presentation on the sourcing methodology of his corporation.
Sheerazie informed the vice chairman that at present he is sourcing from India. However, he would like to consider sourcing from Pakistan keeping in view the potential of its quality products and competitive prices.
Abid Javed Akbar also held a meeting with Ms Julia Huges, Vice President, International Trade and Government Relations and with Ms Laura E. Jones, Executive Director of the US Association of Importers of Textile Apparel and some other important officials.
Ms Hughes informed the Vice Chairman EPB that the US textile and apparel industry were in preparation of major steps that would lead to restrictions in the imports of products from China and Pakistan.
Being a major player, Pakistan needs to be well- prepared for any such restrictions after the phasing out of quotas. Commercial Counsellor extended an invitation to the members of the US Association of Importers of Textile and Apparel to visit Pakistan.
The Vice Chairman EPB stressed the need for the development of institutional linkages between the USAITA and its Pakistani counterpart associations. Akbar was informed that the board of directors meeting of the USAITA would be held in November 2004 where building of strategic alliances with different countries would be considered.
