KARACHI, March 22: Minister of state and chairman, Export Promotion Bureau, Tariq Ikram, on Saturday suggested for joint ventures between Pakistan and China in textile industry with utilization of quotas being low.

The Chinese technological advantage backed by excellent quality of raw material from Pakistan, he said, would be effective in utilization of quotas and would also ensure comparative advantage to both the countries.

This was stated by the EPB chairman in a meeting with the newly-assigned Chinese consul general Sun Chunye, vice consul and commercial counsellor in his office here on Friday.

The consul general briefed the chairman on his new assignment and posting in Karachi and desired to strengthen the economic and cultural aspects in his designated provinces — Sindh and Balochistan in particular and Pakistan and China in general.

Tariq Ikram was of the view that Chinese entrepreneurs and investors should come forward and enter into joint venture with their Pakistani counterparts in areas of textile and garments, leather, fisheries, including fish processing and farming, marble and granite, surgical instruments and engineering and sports goods.

The EPB chief said that it would be more appropriate that if the Chinese investment was made in textile and garment sector where utilization of quota by China in certain categories was quite high but quite low in the same categories by Pakistan.

If this approach — Chinese companies investment and manufacturing support — was adopted this would not only result in leap jump in exports from Pakistan but will also benefit Chinese companies, he added.

Therefore, he suggested that the China should focus on sectoral investment and should visit Pakistan and talk to their counterpart in Pakistan for boosting economic relations between the two countries.