MANILA – Pakistan has expressed interest in expanding trade and investment with the Philippines, with 10 of its largest textile and garment factories pledging to supply textiles and fabrics to local exporters who rely heavily on imports.
Robert M. Young, Textile, Yarn and Cloth Sector Administrator of the Philippine Exporters Confederation Inc., said this following his participation in the Asean (Association of Southeast Asian Nations)-Pakistan Business Opportunities Conference on 7 to August 11. .
Young, who is also president of the Overseas Buyers Association of the Philippines (Fobap), an export-focused trade group, said that includes 100% cotton linens and denim materials.
“These garment exporters are solely dependent on imported materials because the Philippines does not have such an industry,” he said, noting that such goods from the South Asian country are 15-20% cheaper. than those of other countries.
“Pakistan has a lower average cost of production than countries like China, India and Vietnam, while offering the same high quality fabrics thanks to its skilled workers and quality yarn, which makes it the second best quality cotton in the world,” he added. .
In the past, the FOBAP official shared that many materials for the production of clothes are imported. These include cotton sheets, denim for pants, and polyester knits for t-shirts and sweaters, among others. According to him, clothing accessories such as buttons, threads and lining materials are also purchased overseas.
Young had also said recently that he was looking to partner with Pakistani companies to serve markets underserved by local producers, particularly in the high-end segment of the apparel sector.
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