China group offers investment in ginning, spinning

July 13, 2013




MULTAN - Shan Dong Ruyi Group, a Chinese group of companies, has expressed interest in establishing ginning and spinning industry under joint ventures with the Pakistan Cotton Ginners Association (PCGA).
 APP
The group has offered PCGA joint initiatives aimed at increasing cotton and yarn export. CEO of Shan Dong Ruyi group, Sun Li Ming, procurement representative Viki Fung, Aptma representative Tariq Mahmood, translator Zafar Mahmood, were part of a seven-member delegation that met with former PCGA chairman Suhail Mahmood Haral, Nawab Shahzad Ali Khan, Khawaja Riaz Hussain Siddiqi, Khawaja Muhammad Azam, and Sheikh Muhammad Asim Saeed at the PCGA House. Representatives from both sides discussed ways to enhance bilateral trade, installation of ginning and spinning industry by China group in Pakistan, initiatives like new agreements and MoUs for increase in cotton and cotton yarn export to China.

, and the opportunities the two sides can explore, review and promote under joint ventures.
Ex PCGA chairman Sohail Mahmood Haral said that Pakistan ginning industry was producing good quality lint and ginners have expressed interest in exporting best quality lint to China. He said that the offer from the China group would be discussed in detail and central executive committee of PCGA would take a final decision.
He said the Pakistani ginning industry was also producing clean cotton and it can be promoted by ensuring payment of premium price on buying clean cotton. Ginners can also export cotton to the China group directly, Suhail said and welcomed the offer of the group to buy Pak cotton, process it into yarn and then export it to China in finished form. He said that it would help ginners get foreign exchange easily.
nation.com.pk




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