Canadian firm and FPCCI sign MoU

In order to boost the country's exports and to promote the image of its products in local and international markets it is necessary to educate the manufacturers about the importance of branding.
In this connection a memorandum of understanding (MoU) was signed between the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Canadian based company ABC Namebank at the Federation House, here on Thursday.
According to the MoU, seminars and workshops would be held in the eight industrial cities of the country to educate the top management of major exporters about the branding issues. About 100 exportable brands would be developed which would carry assurance of world class quality.
The Canadian firm would help in establishing a secretariat at the FPCCI to facilitate the exporters on marketing issues pertaining to overall image and branding.
On the occasion, Chaudhry Muhammad Saeed, president, FPCCI, said that the registration of new products with their brand names would increase the reliability of Pakistani products world-wide.
A brand name would enable a local company to boost 200 percent of its exports because after the introduction of Intellectual Property Rights, people across the world rely on branded products, he said. The brand names would give the best price to the local manufacturing companies, which were already famous in the international market, he added.
He said that several international companies were selling their products due to popularity of their brands while the real manufacturers are in different countries. The branded companies were now only putting their energies on research and innovative ideas to improve the image of their brands.
Pakistan is also among those countries where big companies have placed orders to local manufacturers for their products. These manufactured products sold in the world market with the big companies' logo, he said.
Several sectors like textile, surgical and sports goods, which have good demand in the international market, but could not get better return due to non availability of popular brands, he said.
Nasim Javed, President ABC Namebank, said that the company would provide training, technical facilities and consultancy to local entrepreneurs about the branding which would boost their confidence in manufacturing. The signing ceremony was also attended by Akbar Abdullah, vice president FPCCI and Mohsin Ashraf of ABC Namebank International.