BEIJING: In the first two months of 2024, Pakistan's exports of cotton yarn to China topped $100 million. Due to a strong yield, experts predict Pakistan will continue to increase its exports of cotton yarn to other countries this year.
In
the first two months of 2024, China imported more than $100.98 million worth of
cotton yarn from Pakistan, up approximately 98% from the same period the
previous year, according to the General Administration of Customs of the
People's Republic of China.
In January and February 2024, exports of uncombed single-cotton yarn exceeded
$57.77 million. This year, Pakistan is the second-biggest exporter of cotton
yarn in this category, behind Vietnam. According to data, exports of uncombed
single-cotton yarn exceeded $41.95 million in the first two months of 2024
compared to $14.54 million during the same period in the previous year.
Head
of the Transfer of Technology Department at the Central Cotton Research
Institute in Multan, Sajid Mahmood, stated that the yarn trade between Pakistan
and China presents a significant chance for the former to expand their exports
beyond mostly Siro Yarns and into other premium variations such as cotton,
carded, and combed yarns, with increased competitiveness in the Chinese market.
India poses a serious threat to Pakistan despite enjoying the advantages of a
free trade agreement with China, particularly in the non-Siro yarn market where
India has a 3.5% higher duty. Vietnam also presents a problem with comparable
duty-free benefits, he added.
China
Economic Net first published this article.
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