LAHORE: The government is keen on having more joint ventures with China as well as becoming a business hub for the Middle East, Central and South Asia, Federal Minister for Commerce and Textile Pervaiz Malik said on Saturday.

He was talking to the media after inaugurating the three-day 18th Textile Asia International Exhibition at the Lahore Expo Centre.

We need more joint ventures for value addition in our products and eventually be able to increase our exports, the minister said.

Talking about the expo, Mr Malik said, `The main benefit of this event is that China has brought its technology here for Pakistani businesspersons. We should understand wellthat China is the only country that wants to shift its technology to us.

The exhibition organisers Ecommerce gateway and the Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) expect the arrival of as many as 50,000 trade and corporate visitors in the exhibition from Sialkot, Faisalabad, Multan, Gujranwala and Lahore during three days.

`Textile Asia is the largest and most successful event of its kind in the region. Previously, the event provided an effective podium for joint ventures and collaborations among the local textile industry and international entrepreneurs.

Some 275 exhibitors from 31 countries displayed more than 339 brands,` said Pregmea Central Chairman Ijaz Khokhar said.

The organisers claim that this is the largest textile and garment machinery show of Pakistan with as many as 600 foreign delegates under one roof.

The participants are showcasingproducts related to textiles and are keen on joint ventures with Pakistani businessmen on sales, distribution, manufacturing, production, etc in view of the ChinaPakistan Economic Corridor (CPEC).

`The cost of doing business (CODB) continues to increase in China and is almost three-time more than Pakistan. Similarly the cost of raw material and other expenses in China is also increasing gradually, forcing the Chinese businesspersons to think about relocating their textile related industrial units to Pakistan, a country where the CODB, raw materials, etc is much lower,` Ecommerce Gateway Pakistan`s Chief Dr Khursheed Nizam said while talking to Dawn.

The Chinese government is instructing its business community to relocate their industry in Pakistan and transfer technology to Pakistani people in view of CPEC, Dr Nizam claimed.

Approximately 600 foreign delegates representing various companies from China, France, Germany, India, Italy, Korea, Taiwan, Turkey, Austria, Czech Republic, UK and USA placed their stalls to showcase their products. More than 48,000 visitors are expected to visit the event during 3 days, according to organisers.

`We are participating in the Lahore exhibition for the first time while earlier in March, we had participated in the event held in Karachi,` said Mr Jiang Chun, a representative of the Changshu Sonnia Home Textile Company Limited and Changsu Qunying Knitting Manufacturers Company Limited.

Talking to Dawn, Mr Chun said, `We feel Pakistan needs Chinese goods as well as technology. This is a good time for Pakistan, which is also a member of the One Belt, One Road project, to avail this chance in view of CPEC as we are here to render our support in this regard.