Pakistani firms get positive response from US, EU buyers

Stable rupee bearing fruit, as reflected in improvement of exports

FRANKFURT: Pakistani companies participating in the Heimtextil 2020 fair in Frankfurt have received an encouraging response from European buyers while a huge number of US buyers have also expressed interest to switch to Pakistani export products over the next one and a half year.

Officials from the Pakistani Embassy in Germany hoped that the exhibition would significantly help eliminate the stagnation of export of Pakistani home textile products to Europe.

The effects of a stable rupee value have started bearing fruit, which is now being reflected in improvement in exports.

Pakistan’s knitwear exports increased 23% during 2019 when export of similar products from Bangladesh, China and India declined due slowdown in the European market.

Pakistani Commercial Counsellor in Frankfurt Khawaja Khurram Naeem told The Express Tribune that focus on EU market with effective marketing, investment in technology and innovative products are the basic reasons behind uptick in knitwear exports.

Speaking on the sidelines of the event, he said that the home textile industry was following similar footsteps and he anticipated exports of such products to the European Union to increase as well.

“The prospects for Pakistan are improving following the changing patterns in global trade,” he said. “To take advantage of them, local exporters have begun investing in technology and products already.”

He added that the European market especially Germany, the largest economy, remained weak in 2019. He pointed out that the market did not boom during the year and growth remained negative.

“The share of our trade rivals China, India and Bangladesh shrank in the knitwear segment but Pakistan managed to maintain its market share,” Naeem lauded. “In the past few years, Pakistan’s home textile exports had been stagnant but now, government policies are creating an environment conducive for exports.”

He was of the view that the main reason behind the increase in home textile exports was the investment made by Pakistani export firms to introduce innovation in textile processing and products.

On the other hand, he remarked that Pakistani companies had also paid special attention to turn their processes and products environmentally friendly.

He underlined that the stable value of rupee began to bear fruit in the last quarter of 2019.

“Increased certainty about the value of rupee is also boosting confidence among foreign buyers of Pakistan’s merchandise,” he said.

Naeem held the opinion that Pakistan would also benefit from a trade war between China and the United States, adding that Pakistani exporters were very optimistic in this regard.

The official said that demand for eco-friendly products was growing rapidly in Europe and the United States and stressed that understanding these trends was essential for Pakistani exporters to enhance their share in the European market.

He maintained that Pakistani Embassy in Germany was working to raise awareness among the exporters to understand the laws and changing trends of the European market.

Talking about the Heimtextil 2020, the envoy termed the exhibition a most effective platform for  communication with European buyers.

He added that Pakistani companies, who do not export to Germany, also participate in Heimtextil fairs to meet potential buyers from Holland, Czechoslovakia, France and other EU markets to enhance market access.

The exhibition concluded on January 10, 2020. Exporters from Pakistan showcased their product range for home textile. 

Published in The Express Tribune, January 12^th, 2020.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.