KARACHI: The leaders and members of the United Business Group (UBG) have highly appreciated the outstanding efforts made by the government particularly by means of smart lockdown in the period of COVID-19 pandemic which kept the industry alive resulting in significant export enhancement.
The decision of the government for smart lockdown gave a considerable edge to Pakistan on the other textile producing countries. Pakistan kept the textile producing industry functional which boosted Pakistan's textiles export to various destinations particularly UK where Pakistan made significant increase in export for US$2.025 billion in the fiscal year 2021 against US$1.522 billion in 2020. While Pakistan's textile was the main commodity contributed in exports to UK.
President of UBG, Zubair Tufail said that the other main reason for increase in Pakistan textile products was because of the market diversification drive and under taken by the UK companies in the period of COVID-19 who heavily relied on Pakistan's competitors.
The volume of the bilateral trade between both the countries has now reached to US$2.648 billion in 2021 against US$2.122 billion of last year.
Copyright Business Recorder, 2021