Pakistan is a home of business opportunities and despite all odds its industry is progressing with every passing day. The country is facing energy crisis, but specter of terrorism is also haunting the nation. However, the economic forces are taking their own natural course without any intended effort. An exhibition arranged by a government agency in Karachi is indicative of the fact that the government is serious about the economy and it means business.
Pakistan has received orders of at least $1.3 billion from foreign buyers during the four-day Expo Pakistan in the event. The Pakistani manufacturers and their foreign counterparts held 3,365 business to business meetings during the export-oriented mega event and finalised deals with the local firms. At least 571 leading exhibitors and over 750 foreign buyers from 77 counties participated in the exhibition. The Trade Development Authority of Pakistan arranged Chinese, Japanese, French, Spanish, Arabic, German and Russian interpreters to facilitate interaction between exhibitors and buyers.
Pakistan is a home of precious gems and stones and the current government is trying its best to keep the wheel of industry in operational mode. It is unfortunate that precious gems and stones, which are the wealth of this nation, are being exported in tons to Hong Kong, Korea, and Taiwan without converting this wealth into value-added products. The stones are exported in tons and imported in pieces as finish products, costing millions of dollars to the national exchequer.
A Russian businessman took great interest in footballs manufacturing in Pakistan discussed prospects of supplying football to be used in the next soccer world cup in Russia.
A firm from Morocco has signed a memorandum of understanding with 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.