Expo ends with over $700mn worth contractsSeptember 30, 2013
Karachi: Expo Pakistan 2013, organized by Trade Development Authority of Pakistan TDAP, ended on September 29, 2013 with high spirits and renewed excitement for new contracts and business opportunities worth USD 700 million.
The exhibition told the world that Pakistan, despite its problems, was “open for world business”. Exhibitions were held in 06 halls covering various sectors of Pakistan such as automobile, textile, jewellery, sports goods, surgical etc.B2B meetings and nonstop seminars provided face-to-face interaction and disseminated information on various trade issues.
There were two fashion shows held as well to showcase the artistic work of Pakistani designers. The last day of the exhibition was opened for public amazing the crowds with high quality products on display.
During Expo 2013, around 1447 Business to Business B2B meetings were held between the buyers and the Pakistani exhibitors/ manufacturers. These meetings included the Honourable Minister of State for Commerce Mr. Engr. Khurram Dastagir Khan, Secretary Commerce, Mr. Qasim M. Niaz, Secretary TDAP, Ms. Rabiya Javeri Agha and FPCCI Vice Presidents along with high level delegations from USA, Poland, Malaysia, Saudi Arabia, UAE, UK, Japan, Iran, South Africa, India, Azerbaijan, Thailand, Hong Kong, Italy, Iran, South etc.
Several important export agreements were signed during the four day Expo. According to exhibitors, foreign business interest was shown of around US Dollar 417 Million. However, major interest was demonstrated by UAE delegations particularly in the Textile/Garment industry. Textile City, a UAE based company, also offered to buy Textile worth USD 100 million with warehousing in Dubai in order to ensure timely delivery.
Another, Sourcing head of Max Land mark Group who operates 1351 retail chain outlets in GCC and globally is under negotiation for a deal worth USD 100 million for UAE Market. It may be mentioned that UAE is the only export destination of Pakistan where exports indicated a jump increase of USD 1 billion during 2012 from the previous year.
Another major triumph was a big order placement by a leading Japanese importing chain store particularly in home textiles. Besides, major buyer groups are staying back to continue their negotiations and visits have been arranged to Sialkot, Faisalabad, Lahore to meet manufacturers cum exporters. This means that export business contracts might touch up to USD 1 billion following the Expo.
The major sectors where the buyers have shown interest are reported as Home textiles, readymade garments, Agro Foods, Engineering and Services. The other sectors which also fetch export orders were Stationary & hand writing instruments, Construction Material, Carpets & Rugs, Autoparts, Gems & Jewellery, Beauty care & Cosmetics, Footwear, Pharmaceuticals, Traditional textiles, Furniture. In addition, a Moroccan company has also shown interest in investing in a Solar Energy plant worth USD 200 Million through a Joint Venture arrangement. One fashion designer has received a large contract from India, while even the colourful ‘truck art’ rickshaws on display were commissioned in a small order of US $ 60,000.
Speaking about Expo Pakistan 2013 Rabiya Javeri Agha, Secretary, TDAP said “We are pleased to inform that Expo Pakistan 2013 was a major success for the export community of Pakistan opening a huge window of business opportunities worldwide for our products. The turnout of local & foreign delegates was beyond our expectation. Expo Pakistan 2013 showed off our quality and innovation as well as also helped in projecting a positive image of Pakistan to the foreign world. We need more of such events to improve our export business and provide opportunities to local businessmen to showcase their products to the world.”
She particularly mentioned Ministry of Trade and Commerce and FPCCI for their immense support in pulling of such a mega successful event. “TDAP will surely work to organize an even bigger expo next year with more focus on sectors like jewellery, textile and agricultural industries as these have a great export potential.”
Overall 523 exhibitors setup their stalls in Expo Pakistan as compared to last year’s 356 exhibitors. Over 1100 foreign buyers/importers from 55 countries visited Expo Pakistan 2013 against last year’s 710 foreign visitors. TDAP had facilitated the foreign buyers with services of interpreters in Chinese, Japanese, French, Spanish, Arabic, German and Russian. Foreign buyers made 2651 visits to different product stalls during the EXPO Pakistan 2013 of which majority buyers represented retail stores chains, departmental stores and renowned business groups.