Expressing serious concern over the discontinuation of Pakistan Pavilion at MAGIC Show in the United States, the Pakistan Readymade Garments Manufacturers and Exporters Association recently asked the Trade Development Authority of Pakistan (TDAP) to continue its earlier practice of adding this premier US textile exhibition in its exhibitions calendar.
In a letter to TDAP chief executive Arif Ahmed Khan, PRGMEA north zone chairman Sohail A Sheikh said Pakistani value-added textile exporters have keen interest in this most comprehensive fashion marketplace in the United States, but they cannot afford it due to its high participation cost.
He said that there is a huge potential for the export of Pakistani garments, fashion fabrics, home textile fabrics, finished products and accessories in the US market.
“If TDAP continues to offer subsidized booth in the Pakistan pavilion at MAGIC Show, many Pakistani companies will be able to target the lucrative US textile import industry and bring large amount of foreign exchange in Pakistan,” Pakistani media reports quoted him as saying.
He pointed out that Pakistan’s competitors like Bangladesh, India, China and Sri Lanka have continued to set up their pavilions and exporters of these countries are participating in this mega textile event.
So, Pakistan should not miss this opportunity, particularly at a time when the country needs to boost its foreign exchange reserves through a surge in exports, he said.
Pakistan’s textile exports from January to November last year stood at around $12 billion and is likely to reach just $13.5 billion by the end of December. This is the same export figure achieved in 2012-13, which is much lesser than the textile exports of Bangladesh or Vietnam. In real terms the textile exports have remained stagnant in last six years, he added.