Pakistan may succeed to make $690 million business deals as a result of Expo Pakistan 2012, which is aimed creating more markets for Pakistani products abroad. Local firms have struck business deals worth over $350 million. Over 710 foreign buyers from 67 countries visited Expo Pakistan 2012 as compared to 582 foreign visitors attended the country's biggest trade fair.
Addressing a press conference, here at Expo Centre on Saturday, Tahir Raza Naqvi, Chief Executive of Trade Development Authority of Pakistan (TDAP), said that Pakistani companies have signed multiple agreements/ Memorandum of Understandings (MoUs) with various foreign firms for making trade and investment in multiple sectors. Members of a Hong Kong based company met with project team of Kherpur Special Economic Zone and held talks with them for setting up a power plant worth $20 million, he said. TDAP also presented the following important figures: Around 1912 business meetings were held between the buyers and the Pakistani exhibitors/manufacturers. Foreign buyers made 1648 visits to different products stalls.
As per feedback received from the exhibitors, tentative business negotiations of around US $350 million have been made on the stalls. On the invitations of the exhibitors various delegates are visiting the factories located in Lahore, Sialkot, and Faisalabad to further finalise the deals after inspecting the quality of production. Pakistani exporters are holding follow-up meetings with the foreign buyers in the afternoon and it is likely that this whole business interaction would generate another & 300 million. Still one day of the exhibition left and business dealing are in progress. As such additional business is expected up to the conclusion of Expo Pakistan on October 7. It is expected that Expo Pakistan 2012 would be able to generate business of $690 million upon finalisation of deals.
Talking about MoUs signed between local and international firms, Naqvi said that multiple MoUs have been signed by KCCI with: Pakistan Chamber of Commerce USA, Malaysia Chamber of Commerce, Russian Business Council Co-operation for Pakistan, Hong Kong Cable Council Co-operation, Pak Malaysia Business Council and Pak China Cultural Business Society. Sindh Board of Investment has signed MoU with Japanese delegation for investment in Japan Special Economic Zone in Sindh province. According to him TDAP had facilitated the foreign buyers with services of interpreters in Chinese, Japanese, French, Spanish, Arabic, German and Russian.
During Expo Pakistan 2012, Federal Minister for Commerce Makhdoom Amin Faheem, met with high level delegations from India and Nigeria. The Chief Executive TDAP and the Secretary TDAP Kabir Kazi had meetings with the delegations from Hong Kong, Russia, Egypt, France, Bahrain, South Africa, Japan, Brazil, Kuwait, Afghanistan, Korea and China. He appreciated the co-operation extended by Federation of Pakistan Chamber of Commerce and Industries (FPCCI), and Karachi Chamber of Commerce and Industries (KCCI). FPCCI President, Fazal Qadir Shirani, extended full support, and deputed different Vice Presidents who met with delegation of Brazil, Russia, Malaysia, Egypt, South Korea, Poland, Argentina, Afghanistan, Bahrain, USA, India, Bangladesh, China and South Africa.
KCCI President, Haroon Azhar and Mian Ibrar Ahmed, the former president met with delegations from USA, Malaysia, Egypt, Nigeria, South Korea, Afghanistan, Poland, Bahrain, South Africa, Saudi Arabia, Russia, Hong Kong, USA, Bangladesh, India, China, and Japan. TDAP has set up a dedicated B2B Secretariat at Expo Centre where separate halls have been allocated to KCCI and FPCCI for back-to-back meetings with foreign delegations and for signing of MoUs.
He said at least 700 foreign buyers were sponsored by TDAP as per the category set by the authority while rest of around 1000 foreign visitors had attended the event by their own expenses. Later he also appreciated those commercial officers who had managed bringing potential foreign delegates.
Comments
Comments are closed.