(yarnsandfibers) -- Pakistani textile manufacturers and exporters should explore markets in Russia and Central Asian Republics with the aim to enhance exports and to raise foreign exchange.
Russia's imports alone are worth about USD70 billion textile products a year and Pakistan's textile exports to Russia are extremely low, at just USD100 million dollars, said Farooq Afzal, a textile exporter and Chairman, Pak-Russia Business Council. Pakistan is one of the few champions of textile exports, but country's share in Russian markets was insignificant.
Besides focusing on markets in Europe and America, the textile producers and exporters should penetrate in Russian market that was spending USD70 billion a year on textile imports, he said. He also pointed out that Kazakhstan, Turkmenistan and Ukraine were also major markets for the exports of textile products.
"I firmly believe that Turkmenistan and Kazakhstan are the future Dubai and Qatar and Pakistani exporters must explore markets in these countries," he said. Farooq Afzal said that the government should disengage the Pakistani economic ministers and commercial counselors from the foreign missions and appoint their local experts having strong connections in their business community.