HomeNews#CPEC effect: #Taiwanese textile companies may relocate to #Pakistan

#CPEC effect: #Taiwanese textile companies may relocate to #Pakistan

Being a cheap labour market, Pakistan can transform into an excellent destination for Taiwanese textile companies, which are willing to relocate their units outside #Vietnam, said #Taiwan Textile Federation President Justin Huang.

“At present, Vietnam is crowded, which causes difficulties for Taiwanese textile firms there, such as labour shortages,” Justin said in an interview with The Express Tribune. “In Pakistan, however, labour issues will not emerge at least for the next 10 years and this is something attractive for us.”

He pointed out that China had invested massively in Pakistan’s infrastructure development projects under the #China-#Pakistan Economic Corridor (#CPEC) and stressed that Taiwanese businessmen could take maximum advantage from such investment.

Pakistan had a duty-free export agreement with the #European Union and in December, the second phase of a free trade agreement (#FTA) with China would also become functional, which would prove to be helpful for the Taiwanese investors and trade and industrial development in Pakistan, he said.

“We are different from China and other countries because we focus more on technical and functional textiles,” he emphasised

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