Expanding horizons: Expo 2012 to generate business deals worth $690m

Foreign delegates visiting factories to inspect product quality.

KARACHI:

The Trade Development Authority of Pakistan (TDAP) has said the Expo Pakistan 2012 is expected to generate business of $690 million following finalisation of deals.

“I am hopeful that the Expo Pakistan 2012 will cross $690 million in business deals (a 33% increase over last year) because foreign business persons are going to visit factories in different cities of Pakistan,” TDAP Chief Executive Tahir Raza Naqvi said while talking to the media at the Karachi Expo Centre on the third day of the exhibition on Saturday.

The TDAP chief believes that by the end of the exhibition on Sunday, more business deals will be finalised as around 50 foreign buyers are going to visit Lahore.

In response to a question, Naqvi said TDAP would ensure that all scheduled business-to-business (B2B) meetings between buyers and exporters were held by the end of the exhibition. Around 1,912 business meetings have been held in the first three days between buyers and Pakistani exhibitors.

As per feedback received from the exhibitors, tentative business deals of around $350 million had been agreed while another $350 million of business was expected as the meetings were going on, Naqvi said.

On the invitation of exhibitors, various delegates were visiting factories in Lahore, Sialkot and Faisalabad in order to finalise the deals after inspecting the quality of production, he added.

A Hong Kong-based company has met with project team of the Khairpur Special Economic Zone in the presence of officials of the Sindh Board of Investment and negotiated for setting up a power plant with an estimated investment of $20 million.

Over 710 foreign businessmen from 67 countries have visited the exhibition so far while the figure will increase by the end of the fourth day on Sunday. Last year, 582 foreign businessmen attended the Expo Pakistan 2011 and business deals worth $517 million were signed.

This year, the number of leading Pakistani exhibitors also increased to 356 from 295 last year, the TDAP chief said.

B2B meetings and business dealings have not only been held at the stalls, but also, on the insistence of foreign buyers, the exporters along with their samples have visited hotels and met with potential customers for a follow-up to initial meetings held at the exhibition.

Naqvi also appreciated the role of the Karachi Chamber of Commerce and Industry (KCCI) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in meetings with foreign buyers at the expo centre.

Vice presidents of FPCCI have met with delegations of Brazil, Russia, Malaysia, Egypt, South Korea, Poland, Argentina, Afghanistan, Bahrain, USA, India, Bangladesh, China and South Africa.

KCCI President Haroon Agar have held meetings with delegations of USA, Malaysia, Egypt, Nigeria, South Korea, Afghanistan, Poland, Bahrain, South Africa, Saudi Arabia, Russia, Hong Kong, Bangladesh, India, China and Japan.

Appreciating their services, the TDAP chief presented shields to the Ambassador of Pakistan to Korea, Shaukat Ali Mukadam and Commercial Counsellor of Pakistan in Malaysia, Wajiullah Kundi for bringing strong delegations of foreign businessmen.

MoU for economic zone

The Sindh Board of Investment (SBI) and DTS Inc Japan on Saturday signed a memorandum of understanding (MoU) for the development of 250-acre Pak-Japan Special Economic Zone at Dhabeji, Sindh.

Speaking at the expo centre, Sindh Finance Minister Murad Ali Shah said the Pak-Japan Economic Zone was a small step towards development of much bigger economic zones in Sindh.

Talking to The Express Tribune, SBI Chairman Zubair Motiwala said the Japanese would build all infrastructure facilities for the project while the SBI and Sindh government would assist them.

Published in The Express Tribune, October 7^th, 2012.