Foreign buyers have placed orders worth $1.3 billion during the four-day mega event of Expo Pakistan 2015, which concluded on Sunday. As many as 3,365 Business to Business (B2B) meetings were held among the foreign buyers and the Pakistani exhibitors/manufacturers. The business delegates, who came from some 77 counties to attend the export-oriented event, were appeared quite interested in Pakistani products and most of them finalised handsome business deals with the local firms.
Overall 571 exhibitors, who were the leading exporters of Pakistan, had set-up their stalls and over 750 foreign buyers/ importers visited the four-day exhibition. Trade Development Authority of Pakistan (TDAP) facilitated the foreign buyers with services of interpreters in Chinese, Japanese, French, Spanish, Arabic, German and Russian languages.
"Due to the business interactive meetings, serious negotiations, business deals at initial stage, Business interest shown, deals finalised, deals matured, the business projections are tentatively estimated at $1.3 billion," said Trade Development Authority of Pakistan (TDAP) officials.
They informed that traders of Gems and Jewellery sector through their stalls in Expo were able to get orders worth $20 million. A number of serious buyers were still on visit to factory premises in Lahore, Sialkot and Faisalabad to further negotiate their business deals.
The big buyers from Russia in footballs have contacted M/s. Forward Sports and invited them to visit Russia to discuss prospects of supply of football for next soccer world cup in Russia. A Moroccan company signed MoU with M/s. Balochistan Wheels for supply of RIMs worth $1.1 million. Similarly Gems & Jeweler Trade Association of China signed an MoU with Pakistan Gems & Merchant and Jewelers Association. Another MoU was signed between M/s. Taasho Enterprises, Bangladesh and M/s. Roshan Enterprise of Pakistan for supply of fruits and vegetables worth of $3.36 million, they added.
During the four-day exhibition, a Dubai-based company has finalised deal with Pakistani slaughter house to import meat worth AED15 million per annum. Another Abu Dhabi-based company finalised deal with Pakistani slaughter house to import meat $10 million annually.
A Dubai-based supplier to UAE government has contracted order for purchase of uniform and office accessories with gradual start of $1million and to go up to $10 million, they added. A Dubai-based special purpose theme based facilities is investing $4 billion in Dubai over three years. For this purpose the Dubai-based developer has indicated to bring full-fledged delegation to conclude MoU for supply of materials and manpower worth $1 billion over three-year period.
Japanese companies have shown interest to invest worth $25 million in Pharmaceuticals, Organic food items, Sports Goods and Sleep wears. Likewise a Saudi company signed an MoU with a Pakistani company for supply of Tents & Canvas worth of $6 million. Similarly, a Bangladeshi firm also signed an MOU with Sialkot-based firm M/s. Malik Sports worth $2 million.
A number of serious buyers established contacts with major exporters in the Karachi, Lahore, Sialkot and Faisalabad and negotiated new orders or increased the volume of existing orders. They visited the factories as well. The estimated values of such business negotiations is estimated at $500 million based on feedback received from Pakistan CCs, buyers themselves or the exporters. Business deals have taken place through business meetings at the forums of FPCCI and KCCI. The sectors in which major interest have been shown are Building Material, Services, Engineering, Fruits & Vegetables, Services, Surgical, Garments & Textiles, and Gems &Jewellery.
The countries, which participated in the Expo, were Argentina, Japan, China, Russian Federation, USA, Brazil, Netherlands, Poland, Malaysia, Saudi Arabia, UAE, UK, Japan, Iran, South-Africa, India, Bangladesh, Thailand, Hong Kong, Italy, Iran, South Vietnam, South Korea, Germany, Kazakhstan, France, Mauritius, Bahrain, Indonesia, Tunisia, Ethiopia, Yemen, Kenya, Czech Republic, Greece, Belgium, Australia, Latvia, Lithuania, Columbia, Croatia, Canada, Egypt, Turkey, Ukraine, Iraq, Jordan, Spain, Panama, San Marino, Bulgaria, Tanzania, Cuba, Sudan, Hungary, Singapore, Chile, Peru, Bosnia, Paraguay, Sri Lanka, and Kuwait. The last two days were open for general public and more than 20,000 people visited Expo Pakistan 2015.