ISLAMABAD – President of Taiwan Textile Federation, Justin Huang, hashinted at the possibility of Taiwanese textile companies relocating toPakistan from Vietnam.
Justin Huang stated that under CPEC, China has invested in Pakistan’sinfrastructure and energy sectors. Taiwanese businessmen can also benefitfrom these CPEC projects.
Moreover, unlike Vietnam, Pakistan is a cheap labor market. Due to thisattribute, Taiwanese businessmen are tempted to relocate their companies toPakistan.
Justin Huang said:
At present, Vietnam is crowded, which causes difficulties for Taiwanesetextile firms there, such as labor shortages. In Pakistan, however, laborissues will not emerge at least for the next 10 years and this is somethingattractive for us.
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At the moment, Pakistan enjoys duty-free access to European markets. InDecember, the second phase of the Free Trade Agreement (FTA) with Chinawill also become effective. Both of these factors can be helpful forTaiwanese investors and industrial development in Pakistan, said Huang.
Justin says that he will discuss the investment opportunities in Pakistanwith other federation members as well.
Acknowledging the quality of the products of the Pakistani textileindustry, Huang stressed on increasing bilateral cooperation between Taiwanand Pakistan in the garments and textile sectors.
