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business
Wednesday Jan 13 2021
By
Web Desk

Pakistani textile firm acquires manufacturing unit in US

By
Web Desk
Representational image. — Twitter/razak_dawood

  • The development is a sign of increasing demand for Pakistani products in international market
  • Adviser to PM Abdul Razak Dawood congratulates Artistic Milliners on the development
  • PM’s adviser encourages Pakistani companies to go global through acquisitions


ISLAMABAD: A major Pakistani textile unit has acquired a manufacturing facility in the US as a sign of increasing demand for Pakistani products in the international market, it emerged on Wednesday.

Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood shared the news on his official Twitter account and congratulated Artistic Milliners on the development.

“It is with great interest that I read that Artistic Milliners has acquired a manufacturing facility in California,” he tweeted.

Read more: Pakistan's exports to US grow by 27% in December 2020

The PM’s adviser encouraged Pakistani companies to go global through acquisitions. “Our local companies should acquire overseas companies and brands, through proper channel, as it increases outreach in the global market and thereby increases our market share.”

He further said that Pakistani companies, formally reaching out across the globe, is a welcome sign.

Read more: For the first time Pakistan's exports to UK cross $1billion in first half of financial year

“I wish Artistic Milliners every success.”