Over $1.2b deals inked at FoodAg
The second International Food and Agriculture Exhibition (FoodAg-2024) concluded on Sunday with over $1.2 billion in deals.
The three-day event held at the Expo Centre attracted more than 800 buyers from 75 countries, with 330 exporters showcasing 500+ quality products. China had the largest delegation, with over 150 buyers present.
The event facilitated 7,000 B2B meetings, resulting in the signing of over 36 MoUs, particularly in sectors such as rice, processed food, seafood, and various fruits and vegetables. Notably, $35 million in seafood contracts were signed between Pakistani and Chinese companies. Additionally, significant investment interests emerged from various international companies in dairy, potato seeds, and beverages.
TDAP organised factory visits for foreign delegates to promote Pakistani exports, with delegations from Malaysia, Egypt, Tajikistan, Japan, and other countries visiting various production facilities. The Global Cuisine Show was another highlight, featuring culinary artists who used Pakistani ingredients, attracting media personalities and international delegations from multiple countries.
Key sideline activities included the Pak-China Agri Investment Conference and Pak-Africa Investment Conference, aimed at boosting trade and investment between the participating countries. Discussions focused on cooperation in aquaculture, meat, processed food, and agriculture. The Federal Minister of Commerce held productive meetings with delegations from several countries, emphasizing the expansion of bilateral trade, agricultural exports, and the development of halal product markets.
The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and other trade associations also engaged in extensive negotiations with their foreign counterparts. Regulatory authorities from 13 countries held detailed discussions with their Pakistani counterparts to address SPS and quarantine issues, highlighting Pakistan's commitment to improving safety standards.
A conference on "Business Opportunities in Africa" was held as part of the event, chaired by Ambassador Naeem Khan, focusing on enhancing trade and investment between Pakistan and African countries. The exhibition also featured pitching sessions by provincial investment boards, encouraging foreign investment in corporate farming, fisheries, and value-added agricultural products.
TDAP Chief Executive Zubair Motiwalla expressed optimism that the $1.2 billion in export orders would help meet the targets set by the Prime Minister. He also highlighted the upcoming FoodAg Manufacturing event in Lahore, which aims to support value addition and mechanized farming in Pakistan, potentially driving a new green revolution in the country.