NEW YORK, Jan 20: Saying that Pakistan has taken a number of steps to boost the competitiveness of its textile and apparel goods, Prime Minister Shaukat Aziz on Thursday called on US retailers and textile industry owners to setup textile mills in Pakistan.

These measures aim to increase production quality and quantity, encourage foreign investment, and improve shipment speed and security, Mr Aziz said at an event hosted by international trade law firm Sandler, Travis & Rosenberg, P.A. at the Princeton Club of New York.

He pointed out that $5 billion had already been invested in textile sector during the past five years and expressed the hope that Pakistan’s export during current fiscal year would reach $17 billion.

Mr Aziz said Pakistan has seen substantial declines in several of its traditional areas of export to the United States as a result of the elimination of the World Trade Organization quota system last year. Shipments of man-made fibre trousers, knit shirts, and dressing gowns and robes, among many other categories, have decreased by as much as 72 per cent. This trend has a great socioeconomic significance for Pakistan, where the textile and apparel sector employs 35-40 per cent of all manufacturing labour and accounts for 9 per cent of total gross domestic product (GDP).

In view of these circumstances, Mr Aziz said, Pakistan has embarked on a wide-ranging initiative to increase its attractiveness to foreign investors. It is ramping up production capacity; improving the quality and reliability of communications, energy, and other vital services; and making it easier to conduct financial transactions.

“Programmes are underway to not only expedite shipments -– including upgrading railroads, highways, and port facilities and accelerating customs clearance -– but to make them more transparent and secure as well. The government is also tightening intellectual property rights (IPRs) protections and bringing worker rights more in line with international standards”, he said.

At a business leaders’ meeting earlier the ex-US secretary of state, Madeleine Albright, said “I salute you, Mr Prime Minister, for very ably handling the economy of Pakistan.” Another diplomat present in the meeting said, “Mr Aziz, you are the best statesman of your country.”