India showcased its growing strength in the textile industry as the Hon'ble Minister of Textiles inaugurated the India Pavilion at Heimtextil 2025, held at Messe Frankfurt. With the largest country participation at this prestigious global home textiles fair, India demonstrated its commitment to innovation, sustainability, and global partnerships. The Minister addressed global home textile exporters, importers, and manufacturers, highlighting India’s growing competitiveness and the need for collaboration to achieve sustainable growth. HMoT invited all participating countries to attend Bharat Tex 2025 and explore investment opportunities in India’s thriving textile ecosystem.
The Minister, during the Investors’ Meet with the textile and machinery manufacturers, highlighted India’s growth story and rising FDI in the last 10 years, emphasizing that the ‘Make in India’ initiative is a proven strategy driving India’s emergence as a competitive manufacturing hub. He encouraged investors to seize the growing opportunities, warning that staying out of India’s market could lead to a fear of missing out. Inviting global investors, he said, ‘Come and invest in India - Make in India, Make for the World’.
On the sidelines of Heimtextil, the Minister also met with the Machinery and Equipment Manufacturers Association and IVGT, Germany. HMoT urged them to strengthen their engagement with India’s textile sector, emphasizing that India is one of the largest textile machinery buyers. Union Minister noted that it would be a win-win situation for both sides if German manufacturers invest and produce machinery in India. Citing the success of a German sewing thread manufacturer already thriving in India, he encouraged other machinery manufacturers to explore and expand their investments in the Indian market. The government actively supports Indian exporters to participate in international events like Heimtextil, enhancing their global visibility and promoting their growth in competitive markets. During his visit, the Minister toured various stalls at the exhibition, engaging with exhibitors to understand their latest offerings and innovations in home textiles. The craftsmanship of Indian exporters reaffirmed the government’s commitment to supporting the sector’s global aspirations. The event witnessed enthusiastic participation from industry leaders and exporters, reflecting India’s determination to strengthen its position as a global leader in the textile industry. The Indian delegation, led by the Minister, was accompanied by Mr. Rohit Kansal, Additional Secretary, Ministry of Textiles, the Consul General of India in Germany, and other Ministry officials. Representatives from five Export Promotion Councils (EPCs) and the Jute Board were also present during the inauguration, showcasing a diverse range of products.
Source: PIB
Building on a 2023 rapid test for detection of microfibers in sample water, sporting goods brand Under Armour, testing laboratory Hohenstein and testing device maker PPT Group have published a standardised test method that enables the determination of microfiber release from textiles under simulated washing conditions. With the new DIN SPEC 19292, apparel and textile companies along the value chain can measure and (e.g. comparatively) evaluate the extent of fibre release for different materials as part of their product development. During the manufacture, use and care of textile products, even from natural materials, fibres are released into the environment. Fibers shed from synthetic materials pollute the oceans as microplastics. Depending on the washing program, i.e. temperature and mechanical load, different quantities of textile fibres flow into in the wastewater. The DIN SPEC 19292 test procedure uses tabletop equipment and a defined amount of water to simulate a washing process on a fabric sample. The sample water is filtered, and the degree of fibre fragmentation is determined by visual evaluation with a microscope. “For years, we have been helping textile companies better understand the fibre discharge of their products into the environment - making it objectively measurable and reducing it in a targeted manner,” says Hohenstein CEO Dr. Timo Hammer. Under Armour was looking to develop an easy-to-use, accessible solution for its suppliers that would allow the company and others to avoid microplastics through product development. “In the apparel industry, assessing the fibre abrasion of garments can be a costly and time-consuming process,” explains Kyle Blakely, Senior Vice President of Innovation, Development and Testing at Under Armour. “With Hohenstein's expertise, our team was able to align our innovative new test method to the globally recognized framework of DIN SPEC 19292. This exciting milestone supports our aim to make the test method as accurate and internationally accessible as possible.” Hohenstein offers additional testing to determine the extent to which (micro) fibres degrade in the wastewater of production plants or in household laundry and how harmful the fibre residues are to the environment. The tests are carried out according to Hohenstein’s in-house methods as well as international standards and procedures.
Source: Knitted Fabrics
MUMBAI —As the global demand for technical textiles surges, India is emerging as a key hub for innovation and growth. Recognizing the vast potential of this evolving market, Messe Frankfurt Trade Fairs India is proud to announce a ground-breaking collaboration for ‘Techtextil India – the country’s premier platform for the technical textiles industry with Austrian Fibers Institute. This strategic alliance between the two-leading platforms in technical textiles will bring the Asia edition of the renowned Dornbirn GFC at a part of Techtextil India Symposium in 2025. A powerhouse event that promises to set new benchmarks for the global technical textiles industry. The 10th edition of Techtextil India 2025 which is scheduled from 19 – 21 November 2025, at the Bombay Exhibition Centre, Mumbai, will open its doors for the Dornbirn Global Fiber Congress Asia on 18th November 2025 to be held under Techtextil India Symposium. By uniting two of the industry’s most influential platforms, this partnership will offer an unparalleled opportunity for the entire value chain of the technical textiles industry to explore global advancements in fibre technology, sustainable materials and cutting-edge applications, aligning with the growing focus on innovations in the domain.
The Dornbirn GFC Asia in India 2025 will spotlight on theme titled as ‘Shaping the future: Sustainable Growth in Fiber Solutions and Innovations’. The conference will be led by globally acclaimed subject matter experts, researchers, manufacturers and thought leaders. The GFC Asia – India Conference will host a diverse line-up of speakers from India and around the world, showcasing cutting-edge innovations and expertise in the fiber and textile industry. The discussions will spotlight ground-breaking advances in spinning technology. Driven by intensive research and development, the upcoming edition of the Techtextil India will present the innovative strides made by the industry players. From various stages of production of man-made fibre, non-woven and others, to the evolving applications and maintenance methods, the expo will be a source of upgrading knowledge and expanding the network.
Speaking about the collaboration, Mr Raj Manek, Executive Director and Board Member, Messe Frankfurt Asia Holdings Ltd, said: “The technical textiles industry is at a transformative juncture in India. At this point of time, the partnership of Messe Frankfurt Trade Fairs India with Austrian Fibers Institute to organise Dornbirn GFC along with Techtextil India 2025 will amplify the benefits of networking and knowledge sharing for the industry professionals. A collaboration of this stature for technical textiles will set a new benchmark for the industry segment.” Expressing similar sentiments, Mr. Matthias W. Gluth, Managing Director, Austrian Fibers Institute, shared: “We are thrilled about this collaboration, which marks a significant step in extending our presence in Asia. It aligns with the vision of the Dornbirn GFC to strengthen its footprint in this dynamic region. Alongside the already established Dornbirn GFC Asia – Korea, this new collaboration with Techtextil India reflects our commitment to actively contribute to and engage with the growing Indian market, fostering innovation and global partnerships in the fibre and textile industry.”
Techtextil India 2025 edition is already sold out and has witnessed a strong interest from leading global brands who have signed up to exhibit. Industry giants such as Reliance Industries, Aditya Birla Yarns, JB Ecotex Ltd, Ganesha Ecosphere Ltd and Perlon Group amongst several other prestigious brands, have committed to showcasing their innovations. The industry machinery manufacturers, fibre and yarn, advancements by textile mills, non-woven, functional textiles, high-performance apparel and more, will be a part of the display along with specialized pavilions like Meditex, focusing on advancements in medical textiles. Indian government is aiming for the technical textile market to reach USD 40 billion by 2030 and total exports targeted are USD 10 billion by 2030. The Indian government and the industry players are confident that India will soon become the world leader in manufacturing of technical textiles. Schemes like National Technical textiles Mission (NTTM) and Technology Upgradation Fund Scheme (TUFS) are offering the benefits to industry stakeholders. Under NTTM, the government is focusing on 156 R&D projects for driving innovations. The government is also encouraging Foreign Direct Investments (FDIs) to boost the segment. The growing focus on sustainability and circularity in textiles is opening up new avenues encouraging reuse, repairing, refurbishing and recycling of the products. Indian government and technical textile educational programmes are witnessing a growth to impart knowledge and skills across categories like medical textiles, mobile textiles, geotextiles, geosynthetics and etc., which represent an attractive future. Applications ranging from medical textiles to sportswear, automotive to construction and environmental sustainability are driving the demand for high-performance materials.Amidst this backdrop, the collaboration of Dornbirn GFC and Techtextil India 2025 marks a pivotal step in positioning India as a global hub for technical textile innovation and strengthening cross-border knowledge exchange. With the technical textiles market poised to redefine industries, Techtextil Symposium India will also present Meditex Conference during the event.
Source: Textile World
Synopsis India's rst e-commerce export hub is set to become operational by March, aiming to boost exports to USD 100 billion by 2030. The pilot launch includes companies like Shiprocket and DHL, with features such as self-sealing and easy reimport policies. Additionally, a new Diamond Imprest Authorisation scheme will start from April 1, promoting duty-free import of diamonds. New Delhi: The rst e-commerce export hub in the country is expected to be operationalised from March this year, a senior government official said on Wednesday. The pilot launch of these hubs has been approved for five rms -- logistics aggregator Shiprocket and air cargo handling company Cargo Service Centre in Delhi; DHL and Lexship in Bengaluru; and goGlocal in Mumbai, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said He said the departments of commerce and revenue, along with the Bureau of Civil Aviation Security (BCAS), are working on formulating a standard operating procedure (SOP) to operationalise these hubs. "We expect the rst ecommerce hub operational by March of this year," he told reporters here. The key features of these hubs would include self-sealing with no customs/BCAS examination at gateway ports; easy reimport policy for returns. and onsite outposts for quality and certifying agencies. The move assumes significance as India is looking to tap into the growing export opportunities in this segment. E-commerce exports have the potential to grow to over USD 100 billion by 2030 and then further to USD 200-250 billion in the coming years. India's exports through this medium are only about USD 5 billion compared to China's USD 250 billion annually. Sarangi also said the directorate is working to launch the second phase of the Trade Connect ePlatform. The phase one was launched in September last year to provide all kinds of information related to exports and imports. "We are working on launching the phase-2 of this which will have a lot more value-added services including trade dispute related issues to be raised here and also trade analytics... trade intelligence reports from overseas missions will land here... trade nance and insurance will also come in this platform," he said. The DGFT also announced launching of Diamond Imprest Authorisation (DIA) scheme. "It will be implemented from April 1. The software module for this is under implementation and we will make it functional from the coming financial year," he said. The scheme allows duty-free import of cut and polished diamonds up to a specified limit with 10 per cent value addition. It aims to establish India as a hub for diamond processing and value addition. The Diamond Imprest Licence allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut, and broken diamonds. Exporters can import diamonds up to 5 per cent of their average turnover from the past three years, with a requirement to add 10 per cent value.
Source: Economic Times
Synopsis India's trade deficit widened to $21.94 billion in December, with a contraction in exports for the second consecutive month. Imports rose to $59.95 billion. Gold imports saw significant revisions, affecting deficit calculations. Key export sectors faced declines while electronics and garments reported growth. Multiple FTAs are under negotiation. New Delhi: India’s trade deficit widened to $21.94 billion in December from $18.76 billion a year ago as merchandise exports contracted for the second month in a row and dipped 0.99% on-year to $38.01 billion, data released Wednesday showed. Gold imports in December amounted to $4.7 billion. However, the merchandise trade deficit narrowed in December compared with November.
Source: Economic Times
On the India-Eurasian Economic Union free trade agreement, the official said the two sides are currently in the process of finalising terms of references.
The negotiations on a free trade agreement (FTA) between India and the UK are expected to resume in early February, after months of pause due to the general election in the UK, a senior official said on Wednesday. The negotiations began in January 2022 and have been a long-drawn-out affair as a common ground on issues such as market access and rules of origin eluded the negotiators. There have been 14 rounds of talks so far and the last round concluded in March 2024, weeks before the UK elections in May. From an Indian point of view, sticking points include the UK’s demand for a greater market access in automobiles and whiskey, and issues like rules of origin and intellectual property rights. In addition to an FTA, India and the UK are negotiating an investment agreement. On the FTA negotiations with the European Union, the official said the tenth round of talks is scheduled from March 10-14 in Brussels. Apart from an FTA, India is discussing an investment protection agreement and an agreement on geographical indications (GIs) with the EU. In the ninth round of talks, both sides discussed issues covering goods, services, investment and government procurement, along with matters such as rules of origin and technical barriers to trade. The talks with the EU for an FTA resumed in June 2022 after a gap of eight years. The talks were earlier suspended as both sides failed to make any headway. Brexit also changed the dynamics and necessitated a relaunch of the talks. On the India-Eurasian Economic Union free trade agreement, the official said the two sides are currently in the process of finalising terms of references. The five members of the Eurasian Economic Union are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. On the review of the free trade agreement in goods between India and Asean, commerce and industry ministry additional secretary Rajesh Agarwal said the next round of talks is scheduled from February 10 in Indonesia. “There is progress in the negotiations, but there are some issues,” he said. The government is working on a data analytics platform that uses artificial intelligence (AI) to get much better insights into the country’s trade figures, commerce secretary Sunil Barthwal said. The system will be launched anytime soon, he said. The ministry is also analysing the data of various sectors and comparing it with that of previous years. A committee has also been set up to create a robust data platform.
Source: Financial Express
The drivers of export growth in December were the engineering sector that grew 8.3% to $ 10.8 billion and electronics goods that grew 35% to $ 3.5 billion. India’s merchandise trade deficit fell to three-month low of $21.9 billion in December, coming in sharply lower than a revised figure of $31.8 billion for the previous month. The slump in exports continued, with December shipments of $38.01 billion being 1% lower on year, pulled down by declines in exports of petroleum products and gems and jewellery
Yet, the trade deficit in April-December period was 14% wider than in the year-ago period, which officials reckon is due to strong investment and consumption demands in the economy. The decline in trade deficit has allayed any concerns over the current account deficit, with analysts believe could be around 1% in FY26. Trade deficit in December 2013 was $18.1 billion. The sharp fall in trade deficit in December would ease pressure on the rupee, which has been falling sharply over recent trade sessions. Imports of gold fell to $ 4.7 billion from a res-estimated $9.84 billion in November.
Imports during December rose 4.9% on year to $ 59.95 billion.
The government has also revised the import figures for November to $ 63.8 billion from $ 69.95 billion stated earlier. This massive revision came after the data of imports of gold, silver and electronics were reset. The exports for November were also adjusted to $ 32 billion from $ 32.11 billion. Earlier the April-November deficit was reported to be $ 202.42 billion, but now it is pegged at $ 188.9 billion. “Our trade growth is quite good, and we will be crossing $ 800 billion in goods and services exports this financial year. We have done better than the rest of the world which shows the resilience of our exports and improvement in manufacturing competitiveness,” secretary in the department of commerce Sunil Barthwal said. In the calendar year 2024 India’s overall exports have grown 5.6% to $ 812.4 billion. This growth is much better than the 3.3% growth in world trade forecast by UNCTAD. The drivers of export growth in December were the engineering sector that grew 8.3% to $ 10.8 billion and electronics goods that grew 35% to $ 3.5 billion. The exports from the apparel sector were up 12.9% to $ 1.4 billion. Rice exports also were on an upswing growing at 64% to $ 1.4 billion. The petroleum exports were down 28.6% to $ 4.9 billion while gems and jewellery exports were down 26% to $ 2.1 billion. In line with the growth in the apparel sector the imports of raw cotton and waste was up 384% to $ 142.8 million. While gold imports moderated, imports of silver grew 210% to $ 421.9 million. The services exports in December were up 3.2% to $ 32.66 billion while imports were 11.9% to $ 17.5 billion. In April-December the merchandise exports were up 1.6% to $ 321.71 billion while imports were up 5.15% to $ 532.4 billion. Overall exports in April-December were up 6.03% to $ 602.6 billion while imports were up 6.91% to $ 682.15 billion. In December, India’s shipment rose positively to the US, Saudi Arabia, France, Bangladesh and Sri Lanka while the top five import sources were China, Switzerland, Thailand, Germany and the US.
Source: Financial Express
The polypropylene yarn market is currently transforming, driven by a rising demand for sustainable and high-performance textiles. As the industry increasingly emphasises cost efficiency and innovative fibre technologies, advancements in polypropylene and functional yarns are becoming paramount. From 11 – 13 March 2025 at the National Exhibition and Convention Center in Shanghai, Yarn Expo Spring will be a key platform for industry leaders to showcase these advancements, reflecting the market's shift.
Thanks to new technologies, smart materials, and robust manufacturing processes, sustainable and functional textiles have become more widespread, and increasingly durable, intelligent, and versatile. Among these advancements, polypropylene (PP) yarn finds extensive applications across various fields, including clothing, carpets, industrial textiles, geotextiles, and even medical uses. With demand propelled by its capacity to fulfil the increasing need for adaptable and functional materials across industries, the polypropylene yarn market is projected to reach USD 38.3 billion by 2037, expanding at a CAGR of 5.7%.
In Asia-Pacific, China and India are already at the forefront of the polypropylene yarn market. China, in particular, stands out as a leading producer and exporter, bolstered by its robust textile manufacturing sector, with Yarn Expo Spring 2025 an essential avenue for international and domestic suppliers to showcase their latest innovations.
Leading brands to highlight functional offerings
Buyers at the 2025 spring fair will be able to source a wide array of polypropylene and other functional yarns and fibres from exhibitors including:
- Guangdong Modern High-Tech Fiber Co Ltd (China) – a renowned manufacturer in polypropylene yarn. They have steadily grown, establishing over 100 FDY production lines, 10 POY lines, 3 DTY lines, and 28 BCF lines, along with advanced R&D equipment. Their annual output exceeds 50,000 tons, making them the top manufacturer in domestic market share for polypropylene filament.
- Shandong Tengzhou Huamao Textile Ltd (China) – they primarily produce high-tenacity polypropylene yarn, multifilament PP twine, polyester twine, nylon twine, braided rope, concrete fibre, PP staple fibre, mesh bags, woven bags, and other yarn and fibre products.
- Qingdao Bangte Ecological Textile Technology Co Ltd (China) – as an expert in functional ecological fibres, the manufacturer develops natural, green, and innovative textile materials derived from milk protein, plants, mint, tea, hemp, ice jade, traditional Chinese herbs, and more. One example is Greenwarm, which includes sarcandra glabra and offers antiseptic and anti-inflammatory benefits.
- Neshin Spinning Co Ltd (Taiwan) – established over 60 years ago, the company specialises in Nylon 6 (PA 6) yarn, Nylon 66 (PA 66) yarn, polyester, and other functional yarns. Neshin’s main export markets include Vietnam, Singapore, Korea, Japan, Italy, and Türkiye.
- Suzhou Pure-fiber Textile Technology Co Ltd (China) – the company manufactures vortex spinning yarn using advanced equipment and various testing instruments, utilising high-quality raw materials and a robust quality management system, ensuring their products meet industry standards.
Yarn Expo Spring is organised by Messe Frankfurt (HK) Ltd and the Sub-Council of Textile Industry, CCPIT. The fair will be held alongside Intertextile Shanghai Apparel Fabrics – Spring Edition, Intertextile Shanghai Home Textiles – Spring Edition, CHIC and PH Value, with the resultant synergy allowing exhibitors and buyers to maximise their business opportunities.
Yarn Expo Spring will be held from 11 – 13 March 2025.
Source: Fibre2fashion
The Mexican Government has been commended by the National Council of Textile Organisations (NCTO) and the National Chamber of the Textile Industry (CANAINTEX) for taking decisive action to stop the flow of subsidised and illegal apparel products from Asia that circumvent tariffs and threaten the textile co-production chain between the United States and Mexico. NCTO and CANAINTEX jointly sent a letter to Mexican President Claudia Sheinbaum expressing their strong support for the recent decree from Mexico that levies taxes and penalty tariffs on imported finished textile and apparel goods as well as specific inputs from non-free trade agreement nations. By taking these steps, regional supply chains will be protected, and fair competition for industry in the US and Mexico will be guaranteed.
By punishing items coming into the United States from Mexican warehouses that take advantage of the rule to avoid tariffs, the order also targets the abuse of the US “de minimis” trade loophole, which has severely hurt textile and clothing producers in the United States and Mexico. Additionally, the groups are requesting that the de minimis loophole be promptly closed by the incoming Trump administration.Due in large part to predatory trade practices by non-USMCA signatories like China, Mexico’s textile industry has lost over 75,000 jobs in the last 18 months, while US textile producers have lost 25 plants and 26,000 jobs.
Source: Apparel Resource
India has devised a plan to attract the struggling textile industry from Bangladesh, which has been severely impacted by the country’s ongoing political turmoil. The Modi government is reportedly considering several incentives for the textile sector, which may be announced in the upcoming budget on February 1. Last year, widespread violence erupted in Bangladesh, leading to Sheikh Hasina’s resignation as Prime Minister in August and her departure from the country. Following this, Nobel laureate Muhammad Yunus was appointed as the interim Prime Minister. However, under Yunus’s leadership, an anti-India sentiment surged in Bangladesh, which he failed to contain. Instead, Yunus leaned towards Pakistan, further straining relations with India.
Potential announcements for the Textile Industry in Budget
Reportedly, the textile sector, which employs an estimated 4.5 crore people in India, could see a 10-15 per cent increase in budget allocation for the financial year 2025-26. The current budget stands at Rs. 44.17 billion and may be raised to support growth and modernization in the sector.
The government may also increase the allocation for the Production Linked Incentive (PLI) scheme for the textile sector in the current financial year. Presently set at Rs. 450 million, the allocation could be raised to approximately Rs. 600 million. This scheme provides tax incentives and other benefits to companies engaged in local manufacturing, encouraging domestic production and competitiveness in global markets.
Tariff reduction under consideration
According to reports, discussions are underway to reduce tariffs on raw materials like polyester and viscose staple fibers, as well as textile machinery. Currently, import duties on these fibers range from 11% to 27%, whereas in Bangladesh, these duties are nearly zero. This discrepancy puts Indian apparel exporters at a disadvantage.
Source: India.com
According to the ‘Textile and Raw Materials Sector Export Performance in October 2024’ report published by ITHIB, the textile and raw materials sector ranked 8th in Türkiye’s overall exports with a share of 4.4% in the January-October 2024 period, while apparel and garment was the 5th sector with the highest exports with a share of 6.1%. Compared to the same period of the previous year in January-October 2024, Egypt was the country with the highest increase in Türkiye’s textile exports with 30.3% on a value basis and 71.7% on a unit basis. During this period, textile exports to Egypt increased from 285 million to 371 million dollars, followed by Spain with a 12.7% increase, Morocco with a 10.9% increase, and the USA with a 67.7% increase. During this period, the top 5 countries with the highest textile exports in value were Italy, the USA, Germany, Spain and the UK, respectively.
When textiles and apparel are considered together, it is the industry that exports the most after the automotive and chemicals and products. Textile and raw material exports decreased by 2.3% in the January-October period compared to the same period of the previous year, decreasing to 9.5 billion dollars, while the apparel and garment realized exports of 13.2 billion dollars, decreasing by 7.9%.
European Union (EU) countries maintained their weight in Turkish textile exports both based on unit (38.1%) and value (41.3). In the first 10 months of 2024, textile exports to EU countries increased by 8.5% on a unit basis and decreased by 1.4% on a value basis compared to the same period of the previous year. The highest increase in value was experienced in African countries, which ranked 2nd with a share of 11.6%, and in the American continent, which ranked 3rd with a share of 8.8%. During this period, exports to African countries increased by 1.1 billion dollars, and to countries in the American continent by 7.2 percent, with a value of 830.4 million dollars, compared to the same period of the previous year. When textile exports were examined in terms of quantity during the same period, the highest increase of 15.9 percent was seen in former Eastern Bloc countries.
The downward trend in home textile exports continues
Woven fabrics were the most exported product group in the January-October period, decreasing by 4.8% compared to the same period last year, to 1.9 billion dollars. The country with the most woven fabric exports during this period was Spain, with a 26.1% increase. Technical textile exports, which came in second, increased by 2.7% to 1.9 billion dollars, while the US had the largest share with a 26.5% increase. The yarn product group ranked third with a 4.6% increase and 1.8 billion dollars in exports. The country with the most yarn exports was Italy, with a 10.1% share, while the highest increases were seen in Portugal, with a 76% increase, and in Egypt, with a 45.2% increase.
Source: Textilegence
Pakistani textile companies will visit Azerbaijan to explore investment opportunities, President of Pakistan-Azerbaijan Economic Cooperation Chamber (PAKAZCHAM) Khurram Javaid Bhatti said in a statement to Report. According to Bhatti, they are planning to organize an event for Pakistani textile owners to further explore opportunities and collaborations in Azerbaijan.
"A key project I am currently working on involves a renowned Pakistani garment company that is interested in expanding its brand to Azerbaijan. This company offers a wide range of men's clothing, including formal suits, casual wear, semi-casual attire, and accessories. It is one of the most prestigious and well-known brands in Pakistan, with a huge network of stores. The company is keen to establish its presence in Azerbaijan. Discussions are ongoing, and I am confident that we will see progress soon," the PAKAZCHAM president said. He emphasized that there are opportunities to expand partnership in the textile industry. "The brotherly relationship between Azerbaijan and Pakistan has a rich history, marked by strong political and democratic ties. The year 2024 was particularly significant for their economic relationship. After around seven years, President Ilham Aliyev of Azerbaijan paid an official visit to Pakistan at the invitation of the Prime Minister of Pakistan. This visit, focused on one-to-one discussions between the leaders and various ministers of both countries. During this visit, around 15 Memoranda of Understanding (MoUs) were signed, targeting key economic sectors," Bhatti said. He said, additionally, a major achievement this year was the signing of two significant agreements, a Preferential Trade Agreement and a Trasit Trade Agreement, which will further strengthen their economic ties: "The agreement includes discounts on a list of approximately 9 to 10 products from each country. From Azerbaijan, key products include hazelnuts, various agricultural goods, vegetable extracts, and tobacco, while Pakistani products include rice, potatoes, textile, and medical equipment. The strategic matching of products and the subsequent reduction in tariffs and duties will significantly benefit both nations by enhancing their trade relations."
In January-November 2024, the value of trade turnover between the two countries amounted to $20 million, which is 0.9% more than in the same period of 2023. During 11 months, the value of Azerbaijan's exports to Pakistan amounted to $197,000, and the value of Azerbaijan's imports from Pakistan amounted to $19.8 million. These are 7.5 times less and 8% more, respectively, than a year ago.
Source: PK News
