Business news

MINSK, 2 March (BelTA) – Belarus and Pakistan are eager to develop cooperation in textile industry. Ambassador Extraordinary and Plenipotentiary of Belarus to Pakistan Andrei Yermolovich met with Secretary of the Pakistani Ministry of Textile Industry Hassan Iqbal to discuss relevant plans on 2 March, BelTA learned from the Belarusian Embassy in Pakistan.

“The parties discussed a wide range of matters related to the Belarusian-Pakistani cooperation in light industry. The Pakistani side expressed interest in participation of a considerable number of Pakistani manufacturers in the 40th international light and textile industry fair BelTEXlegprom to be held in Minsk from 29 to 31 March,” the embassy said.

An agreement was reached to organize the first Belarusian-Pakistani textile forum on the sidelines of the fair to thoroughly consider promising avenues of bilateral cooperation, including joint ventures and investment projects.

Pakistan is one of the world’s leading manufacturers of cotton. The country has a well-developed textile industry. Following a series of negotiations in 2015-2016 and presentations by the Bellegprom light industry concern, the Pakistani party has shown strong interest in cooperation with relevant companies.

“In general, given the capabilities of the textile industries of the two countries, there is a real opportunity for Belarus to attract investment from Pakistan and to learn from its experience. But this will take time. Belarusian textile manufacturers seek to establish contacts with the Pakistani enterprises for purchasing textiles for the needs of the Belarusian garment factories. There are good prospects for cooperation in the purchase of cotton from Pakistan, provided that the Pakistani side offers competitive delivery terms,” the embassy said.