BEIJING Aug 5, (INP): Suzhou, China’s traditional textile hub has showcases opportunity for Pakistani businesses, China Economic Net (CEN) reported on Monday.
Once known as a city of textile in ancient China, Suzhou today has established itself as an industrial hub in China’s economic landscape.
This transformative image was featured during the recent Pakistan Investment and Trade Conference held jointly by the Consulate General of Pakistan in Shanghai and local authorities and enterprises in Suzhou last Thursday, underscoring the city’s potential for Pakistan-China collaboration across various sectors.
Shehzad Ahmad Khan, Consul General of Pakistan in Shanghai, said Suzhou, a historic treasure nestled beside Shanghai, has emerged as a beacon of modern development and a key hub for international collaboration.
“My initial encounter with Suzhou was impressive – it stands as a testament to China’s rapid urbanization and economic strides,” remarked the Consul General.
“Suzhou’s position as a manufacturing epicenter is undeniable, and the seamless flow of human resources between Shanghai and Suzhou underscores its strategic significance.”
According to recent statistics released by the Suzhou Statistics Bureau, the city’s economy continued to thrive in the first half of 2024, with a gross domestic product (GDP) of RMB 1.2059 trillion, a significant increase of 6.2% year-on-year.
The city’s manufacturing prowess is also evident: in the first half of 2024, Suzhou achieved a total industrial output value of RMB 2.2253 trillion, up 5.5% year-on-year.
The Consul General further emphasized the strong synergies between Suzhou and Pakistani counterparts, particularly in the fields of textiles, renewable energy, electric vehicles and medical devices.
“We see immense potential for cooperation, whether through industry relocation, joint ventures, or foreign direct investment from China to Pakistan,” he said, adding that the existing ties between the two nations are rooted in their shared history of silk and textile production.
The Consul General further emphasized the growing importance of Pakistan as a gateway to the European Union for exports, while noting its vast market for consumer products.
The Conference culminated with a series of B2B networking sessions and individual meetings, presenting a golden opportunity for enterprises from both countries to delve into potential partnerships and discuss avenues for collaboration.
INP/javed
