KARACHI, Sept 11: Leader of 12-member Chinese textile delegation Cao Xinyu said on Tuesday that Chinese companies are willing to form strategic linkage with their Pakistani counterparts in textile sector.

Cao, who is also vice chairman of China Chamber of Commerce for Import and Export of Textiles (CCCT), stated this in a meeting held with the Minister for State and Chairman Export Promotion Bureau (EPB), Tariq Ikram, at EPB offices.

He said that over the past two years, China has become, for the first time a capital exporting nation with $7 billion invested abroad.

Cao said his government and financial institutions are providing assistance to big corporations and companies seeking to establish offices and factories abroad.

However, he said Pakistani private sector textile companies will need to take a professional corporate initiative in order to establish trust and long-term relationship with their Chinese counterparts for a win-win partnership globally.

He said that Chinese government is keen to enhance bilateral trade with Pakistan and in this connection some other delegations of Chinese firms and chambers are planning to visit Pakistan in near future. Chinese companies, he said have surplus liquidity and are looking for investment destinations.

EPB chief Tariq Ikram hoped that bilateral trade between the two countries will increase manifolds in near future. He said that China’s exports of textiles and garments remained worth $55 billion last year and continues an upswing trend.

He said that the balance of trade always remained in favour of China.

Tariq said that the EPB is arranging six international exhibitions at various parts of China, besides a trade delegation.

EPB vice chairman Ejaz Ahmed Qureshi informed the Chinese delegation that with the use of modern machinery, latest fashion designs and ultra modern techniques, the textile industry in Pakistan have proved it one of the best quality maintained industry.