Pakistani textile manufacturers and exporters should explore markets in Russia and Central Asian Republics with the aim to enhance exports and to raise foreign exchange. Russia’s imports alone are worth about $70 billion textile products a year and Pakistan’s textile exports to Russia are extremely low, at just $100 million dollars, said Farooq Afzal, a textile exporter and Chairman, Pak-Russia Business Council. Pakistan is one of the few champions of textile exports, but country’s share in Russian markets was insignificant.
Besides focusing on markets in Europe and America, the textile producers and exporters should penetrate in Russian market that was spending $70 billion a year on textile imports, he said. He also pointed out that Kazakhstan, Turkmenistan and Ukraine were also major markets for the exports of textile products. “I firmly believe that Turkmenistan and Kazakhstan are the future Dubai and Qatar and Pakistani exporters must explore markets in these countries,” he said. Farooq Afzal said that the government should disengage the Pakistani economic ministers and commercial counselors from the foreign missions and appoint their local experts having strong connections in their business community.
He cited the example of Bangladesh that engaged a few American experts of textile marketing, who ultimately made Bangladesh one of the leading textile exporting countries in few years. He regretted that most of the economic ministers and commercial attaches are appointed in the foreign missions on “favouritism” and show least interest in working for the cause of the country and remain busy in pursuing their personal or vested interests. Farooq Afzal also demanded of the government to impose gradual ban on the export of raw cotton, yarn and fabrics to promote the manufacturing and exports of value added textile products.
Pakistani textile industry needs 16-17 million bales of raw cotton a year to meet export orders, but the country produces about 14 million bales and the shortfall is met through import of cotton. He said that most of the cotton is consumed by the yarn and fabrics exporters.
He said that to promote value addition in textile sector, the government would have to eliminate export of yarn and fabrics, in phases. The incentives that are being given to yarn and fabrics manufacturers and exporters, should be diverted towards those who are exporting high value added textile products, he added.Value addition in textile, he said, would enhance exports, generate more foreign exchange, increase employment and enable Pakistan to get rid of IMF and the World Bank, he said.
Textile industry should tap Russian, CAR markets
