KARACHI: Texpo 2024, the 5th edition of Pakistan’s premier textile and leather exhibition, is expected to generate export orders worth a staggering $800 million, nearly double the $420 million secured at last year’s event.
Addressing a press conference at TDAP office, Zubair Motiwala CEO TDAP informed that Texpo will take place from October 23 to 25 at the Expo Centre and the Prime Minister will inaugurate the country’s largest textile exhibition. This mega event will be a game changer for the country’s textile sector, showcasing its potential to international buyers and fostering significant business opportunities, he added.
Texpo, organised by the Textile and Leather division of the Trade Development Authority of Pakistan (TDAP), will highlight the country’s vibrant and innovative contributions to these sectors while providing a platform for international collaboration, he added.
A record 550 foreign delegates are confirmed to attend the event, representing major global markets. Delegations from the Netherlands and South America, each comprising 50 members, are among those attending to explore Pakistan’s vibrant textile and leather industries, he informed.
A highlight of Texpo 2024 is the highly anticipated fashion show, which will feature designs from 25 of Pakistan’s largest fashion companies, with the latest trends aligning with global fashion.
With the Generalised Scheme of Preferences Plus (GSP+) status continuing, the country is well-positioned to benefit from tariff-free access to European markets, providing a vital boost to textile exports.
Replying to a question on power tariff, Motiwala said that the government is making efforts to introduce a local electricity supply tariff, expected to be under 10 cents per unit, which will further enhance the competitiveness.
He said that several joint ventures are anticipated to be signed during the exhibition, enhancing international partnerships and investment in the textile sector. Industry experts see this as an ideal opportunity for Pakistan to increase textile export from $16 billion in F24 to $19 billion by the end of this fiscal year.
He informed that leather exports, which stood at $800 million last year, are projected to grow to $1 billion by the end of FY24. One exhibition hall will be dedicated to leather exhibitors, reflecting the industry’s potential and commitment to boosting its global footprint. With textile exports posting a 14 percent growth last month, experts see Texpo 2024 as the perfect opportunity to showcase the industry’s achievements, he added.
Copyright Business Recorder, 2024
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