Textile giants in Pakistan to supply fabrics to Philippine garment exporters
The largest textile and garment factories in Pakistan have committed to supplying textiles and fabrics to Philippine garment exporters.This is a major development as the Philippines does not have a significant textile industry.The Pakistani factories will supply mostly 100% cotton sheets and denim.The Pakistani factories are able to offer lower prices than other countries due to their lower production costs.
Philippines has unparalleled access to key markets
The Philippines has unparalleled access to key markets, including ASEAN, APEC, Asia, Europe, and the United States.This makes it an attractive destination for Pakistani exporters.The Philippines is also a member of the World Trade Organization and the European Union's Generalized Scheme of Preferences Plus program, which gives it access to preferential trade terms.
Pakistan has invested in Philippines
Pakistan has already invested in the Philippines in various sectors, including garments, textiles, and pharmaceuticals.This investment is likely to increase in the future as the two countries strengthen their trade ties.
