Exporters fetch record orders worth $517 million

Large number of business meetings held with foreign traders in Expo Pak.

KARACHI:

Pakistani exporters have got orders worth $517 million so far in the 6th Expo Pakistan, which is being termed as the record highest in the last five exhibitions.

The expo has also set a new record of business meetings between the Pakistani traders and foreign importers as 1,650 business meetings have taken place in the meeting halls, especially set up for the purpose at the second floor of the expo centre.

In a media briefing about the foreign response and the benefits received from this exhibition, the Chief Executive of the Trade Development Authority of Pakistan (TDAP) Tariq Iqbal Puri said that the exhibition had been more successful than expectations.

Overall 582 foreign buyers participated in the event, who recorded 1,093 visits at the stalls of 295 companies.

Fifteen Memoranda of Understanding were also agreed during the expo between Federation of Pakistan Chambers and Commerce and Industry, Karachi Chamber of Commerce and Industry and foreign companies and organisations, which will enhance the efficiency of the Pakistani industries and investments in the country.

A deal of $120 million was agreed between a Hong Kong-based company and a Pakistani dairy company which is expected to increase to $300 million. A Polish firm has entered a deal with a Pakistani IT company for software export to European market worth up to $1 billion.

Puri said that foreign buyers have developed a very pleasant impression about Pakistan because of top arrangements of the expo. He said that more foreign visitors had come to Pakistan to attend the expo than were expected and all the hotels of Karachi were short of rooms to accommodate them.

He said that TDAP plans to invite 1,000 foreign traders in the next expo and the hotel industry should start preparing for that immediately.

Furthermore, a 17-member delegation from Europe showed special interest in purchasing home textiles, frit, software and processed foods and other products. A delegation from Netherlands has booked bulk orders of mangoes from Pakistan. A Chinese firm has entered in a deal of import of chrome of $30 million with a Pakistani firm, Global Enterprise.

Published in The Express Tribune, October 23^rd, 2011.