Chief Executive Trade Development Authority of Pakistan (TDAP) Syed Mohibullah Shah has said as a result of Expo Pakistan, international buyers would ink export agreements of $100 million. Addressing a press conference on concluding day of Expo Pakistan, he said that the international importers have signed memorandum of understandings and trade agreements of $50 million, while $50 million deals would be matured later.
"In addition to this a Korean company has inked $10 million trade agreement of ethanol," he added. He said that the delegated from Sweden, US, Spain, South Africa, France, Malaysia, Romania, Bangladesh, Argentina, Morocco, South Korea, Hong Kong and others have shown their interest in textile, handicraft, rice, lather, industrial garments, surgical instrument and other sectors.
Regarding the law and order situation, Mohibullah Shah said, the delegates have expressed their satisfaction, adding that even the delegates went for shopping and picnic, which negates the international propaganda regarding the law and order situation of Pakistan.
He asserted that it also proved the travel advisories issued by different countries to their citizen as wrong. He said that TDAP arranged visits of the foreign delegates to other industrial cities including Lahore, Gujranwala, Sailkot and others. He said that the exhibition brought largest number of exhibitors from every nook and corner of the country and it has also brought in large number of buyers from over 50 countries.
"For the first time the entire commercial space for stalls were occupied by 408 exhibitors, who have displayed a wide range of agricultural, industrial, engineering, textile, jewellery, minerals and a wide range of handicrafts including rugs carpets, surgical instruments, sports goods and many other products of Pakistan," he added.
Chief executive TDAP said this year Expo Pakistan also introduced several new exporters especially SMEs, who are real backbone of country's economy being the largest employers. He said that Expo Pakistan provided "direct marketing" opportunities to Pakistani producers and exporters by bringing in large number of foreign buyers and local sellers under one roof for four days.
This method of direct marketing eliminates 2nd and 3rd tire of middlemen, adding by providing this direct marketing opportunity in Expo Pakistan, TDAP had enabled Pakistani producers to get better prices. "Expo Pakistan has also opened up new opportunities for expanding trade and investment and exports from Pakistan, while the numbers of foreign buyers have shown keen interest in investment in export oriented products of Pakistan," he added.
This interest has been confirmed in their meeting with TDAP in areas such as agro food and food processing, halal food, industrial garments, cold storage, packing, canning and processing of new food products, processing of new product developed from fruits and vegetables, surgical instruments etc.
Shah said that some foreign delegates have also shown interest in setting up showrooms and warehouses of Pakistani products in their own countries and they are willing to make their own investment in setting up such facilities.
He informed media that number of foreign buyers also indicated their interest in setting up their own subsidiaries companies in Pakistan so that they could regularly keep purchasing Pakistani products round the year, in addition to attending these exhibitions.
He said that TDAP is mulling to construct a new exhibition hall, so that congestion in future is avoided and many more exhibitors of Pakistani products could be accommodated. He said that keeping interests of buyers in exhibition especially in textile sector in view, TDAP would hold textile and clothing exhibition. "The next Expo Pakistan would be held in month of October 2009," he informed.
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