Members of the apex body of the textile sector of Pakistan are due in Dhaka on February 4 with joint venture investment proposals in textiles sector of the country.
"The Pakistani textile leaders are keen to invest in this particular sector as Bangladesh enjoys some facilities in export including Generalised System of Preference (GSP). But the Pakistan does not have such facility," said Chairman of Bangladesh Textile Mills Association (BTMA) MA Awal while talking to the FE Tuesday.
As a result, the Pakistani textile exporters have to pay 25 per cent more taxes where Bangladesh enjoy zero tax facility, Awal said, adding that this benefit has interested many countries to invest in joint venture projects.
Moreover, Bangladesh has the advantage of cheap labour for which the Pakistani textile entrepreneurs are eager to make investments here, Awal said.
He said the president of Pakistani textile leaders would lead an 18-member team to Bangladesh.
A few months back, bed-sheet manufacturers and exporters of Pakistan visited the country and showed keenness to invest here.
When asked, Awal, however, said the Pakistani entrepreneurs are yet to reveal any investment figure until now, which might be invested in Bangladesh.
But he said the Pakistani textile leaders may invest in the local dyeing, finishing, processing and terry towel industries.
Many Pakistani bed-sheet manufacturers and exporters, who were born in pre-Independent Bangladesh, also proposed to invest in the country in the factories which were left by their predecessors during the liberation war in 1971, Awal added.
The BTMA chief said the delegation will inspect some well established dyeing, finishing and processing units during their visit to Bangladesh.
They will also meet the executive chairman of the Board of Investment (BoI), leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) to discuss different matters.