KARACHI: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and ECO-CCI, as well as Vice President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), called for a unified strategy among Asia-Pacific nations to bolster the region's textile industry and increase its global market share.

According to the Federation of Pakistan Chambers of Commerce & Industry, Sheikh presented this perspective during a CACCI webinar focused on the "Textile Industry in Asia Pacific Region: Opportunities, Challenges and Way Forward." The event was organized by the Asia Textile and Garment Council and chaired by FPCCI, with the Federation of Bangladesh Chambers of Commerce and Industry co-organizing the session.

Sheikh highlighted the projected growth of the global textile market, expected to rise from $2.12 trillion in 2025 to $4.27 trillion by 2035, with the Asia-Pacific region holding a significant share. The region's textile market is anticipated to increase from $1.14 trillion to $2.33 trillion over the same period. He noted the sector's employment capacity and its contribution to global GDP, emphasizing China's dominant role in global textile exports.

Discussing Pakistan's role, Sheikh underscored the textile sector's crucial contribution to the national economy, accounting for a substantial portion of exports and industrial employment. He highlighted Pakistan's position as a major textile exporter and producer, as well as the benefits of its integrated textile value chain and various economic incentives.

Sheikh also pointed to Pakistan's strategic geographic location and infrastructure connectivity as potential advantages for expanding regional trade. He proposed greater cooperation among Asia-Pacific countries to enhance textile exports to key international markets by focusing on sustainability, technological innovation, and cross-border investments.

The webinar concluded with a Q&A session where Sheikh addressed inquiries on supply-chain transparency and regional value-chain development. He commended CACCI for facilitating the discussion and promoting dialogue on the future of the region's textile industry.