Pakistan keen on expanding trade with PH, says Fobap exec
MANILA -Pakistan has expressed interest in expanding trade with and investments in the Philippines, with 10 of its biggest textile and garments factories committing to supply textile and fabrics to local exporters who are highly import-dependent.
Robert M. Young, who is the trustee for the textile, yarn and fabric sector of the Philippine Exporters Confederation Inc., said this following his participation at the Asean (Association of Southeast Asian Nations)-Pakistan Business Opportunities Conference last August 7 to 11.
Young, who is also the president of the export-oriented trade group Foreign Buyers Association of the Philippines (Fobap), said these include 100-percent cotton sheets and denim materials.
“These garment exporters rely solely on imported materials as the Philippines has no such industry,” he said, noting that these goods from the South Asian country are 15 to 20 percent cheaper compared to other countries.
“Pakistan has a lower average production cost than countries like China, India and Vietnam, while offering the same high-quality fabrics due to its skilled workers and yarn quality making them as the second-best quality cotton in the world,” he said further.
In the past, the FOBAP official had shared that many materials for producing garment goods are imported. These include cotton sheeting, denim for pants and polyester knitted fabric for t-shirts and sweaters, among others. Clothing accessories such as buttons, threads, and lining materials are also bought overseas according to him.
Young had also said recently that they were looking to partner with Pakistani firms to serve markets that are underserved by the local producers there, particularly on the high-end segment of the apparel sector.