The Pakistan Readymade Garments Manufacturers and Exporters Association, expressing its serious concern over the discontinuation of Pakistan Pavilion at MAGIC Show in the United States, has asked the Trade Development Authority of Pakistan to continue its previous practice of adding this premier textile exhibition in TDAP exhibitions calendar.
In a letter written to Trade Development Authority of Pakistan (TDAP) Chief Executive Arif Ahmed Khan, PRGMEA (NZ) Chairman Sohail A. Sheikh observed that Pakistani value-added textile exporters have keen interest in this most comprehensive fashion marketplace of the U.S but they cannot afford it due to its high participation cost. He said that there is huge potential for the export of Pakistani-made garments, fashion fabrics, home textile fabrics, finished products, and accessories in the US market. "If TDAP continues to offer subsidized booth in the Pakistan pavilion at MAGIC Show, many Pakistani companies will be able to target the lucrative US textile import industry and bring large amount of foreign exchange in Pakistan," he suggested.
Sohail A. Sheikh observed that the 'Sourcing at MAGIC' is the most comprehensive fashion marketplace in the U.S., showcasing Women's and Men's Apparel, Footwear, Accessories, and Sourcing resources from around the world. In the letter, he said that MAGIC fuels the business of fashion by helping facilitate connections between buyers and brands with outstanding services like retail concierge and matchmaking programs, bridging relationships and strengthening connections. Additionally, retailers and buyers have opportunities to learn, network, and conduct business with new and returning exhibiting brands, he added.
At MAGIC Show, companies can display all kinds of garments for Men, Women, juniors and Children. From the height of advanced contemporary luxury brands, to the latest trends in fast fashion, MAGIC fuels the business of fashion bi-annually in February and August every year.
"Moreover, as the US-China trade war could lead to potential industrial growth and the inflow of foreign investment into Pakistan. It offers an opportunity for Pakistan to boost its exports to the United States as well as revive the closed manufacturing capacity." He pointed out that Pakistan's competitors including Bangladesh, India, China and Sri Lanka have continued to set up their pavilions and exporters of these countries are participating in this mega textile event. So, we should not miss this opportunity particularly at time when we need to boost our foreign exchange reserves through jump in our exports.
He said that the textile exports, from January to November 2019, stood at around $12 billion and likely to reach just $13.5 billion by the end of December. This is the same export figure achieved in 2012-13, which is 2.5 times less than the textile exports of Bangladesh or Vietnam. In real terms the textile exports have remained stagnant in last six years. During the same period the textile exports from Bangladesh and Vietnam increased at a rate of over 7-10 percent. Pakistan share in global textile trade has declined from 2.2 percent at the start of century to less than 1.70 percent.
He said that Pakistani companies, under the umbrella of the Trade Development Authority of Pakistan (TDAP), should participate in the US premier exhibition, helping exporters understand the US market and how best to increase buyers to Pakistan.