Trading Corporation of Pakistan (TCP) has suggested China National Cotton Group Corporation (CNCGC) Beijing to purchase cotton through tenders or on government-to-government basis. This suggestion was made by Chairman TCP Syed Masood Alam Rizvi during a meeting with the four member delegation of CNCGC led by Standing Member of All China Federation Supply and Marketing Co-operative Sun Zhixin.
The delegation also included vice president of CNCGC Feng Guoguang, International Business Department of CNCGC Ms Tang Ching and Vice Division Chief of Economic Construction Bureau of Ministry of Finance, China Ms Zha Aijun.
The meeting was informed that China would require 8 million bales of cotton from all sources including Pakistan to meet the growing demand for its textile industry.
TCP chairman said the Corporation has procured 1.8 million bales of cotton and a substantial quantity of this cotton will be required for local textile industry.
The delegation was given a detailed briefing about various aspects of Pakistan's cotton sector including production and picking of cotton, ginning, research in Pakistan cotton by the concerned organisations.
The delegation was satisfied with their visit and expressed the idea to have co-operation among China, India and Pakistan who jointly produce more than 50 percent of the worlds cotton to meet the challenges and exploit the opportunities created by the quota-free regime under WTO.