China’s textile hub offers opportunities for Pakistani businesses

Suzhou, China’s textile hub offers opportunities for Pakistani businesses to promote economic cooperation.

Once known as an ancient textile city, Suzhou has transformed into an industrial hub within China’s economic landscape. This evolution was highlighted at the recent Pakistan Investment and Trade Conference, co-hosted by the Consulate General of Pakistan in Shanghai and local authorities and enterprises in Suzhou. The event underscored Suzhou’s potential for Pakistan-China collaboration across various sectors.

Shehzad Ahmad Khan, the Consul General of Pakistan in Shanghai, praised Suzhou as a historic gem near Shanghai that has become a modern development beacon and a key international collaboration hub. “My initial encounter with Suzhou was impressive – it stands as a testament to China’s rapid urbanization and economic strides,” remarked the Consul General.

Furthermore, he highlighted Suzhou’s strategic importance as a manufacturing epicenter, noting the seamless flow of human resources between Shanghai and Suzhou.

Recent statistics from the Suzhou Statistics Bureau showed the city’s thriving economy in the first half of 2024, with a GDP of RMB 1.2059 trillion, marking a 6.2% year-on-year increase. Adding to it, Suzhou’s manufacturing strength was also evident, achieving a total industrial output value of RMB 2.2253 trillion in the first half of 2024, up 5.5% year-on-year.

The Consul General highlighted the strong synergies between Suzhou and Pakistani counterparts, particularly in textiles, renewable energy, electric vehicles, and medical devices. As a result of this he saw immense potential for cooperation through industry relocation, joint ventures, or foreign direct investment from China to Pakistan, noting the shared history of silk and textile production between the two nations.

Additionally, the Consul General emphasized Pakistan’s growing role as a gateway to the European Union for exports and its vast market for consumer products.

The conference concluded with B2B networking sessions and individual meetings, providing enterprises from both countries with opportunities to explore potential partnerships and discuss collaboration avenues.

China’s textile hub offers opportunities for Pakistani businesses, it opens avenues for Pakistan to explore for more deeper economic cooperation with China.