Expo Pak receives orders worth $80 million

Expo Pak receives orders worth $80 million

Staff Report

KARACHI: Expo Pakistan, which concluded on February 28, 2010 has generated $80 million worth of business orders for the domestic entrepreneurs with most of the orders coming from Yemen, South Korea, Hong Kong, Malaysia and Kenya.

Besides, some delegates from other countries have indicated willingness for joint ventures with Pakistani entrepreneurs, Trade Development Authority of Pakistan (TDAP) claimed on the conclusion of the mega trade event.

Chief Executive TDAP, Syed Mohibullah Shah met with various delegations from foreign countries at Karachi Expo Centre and said Yemeni delegation has signed 19 contracts worth $20 million for the purchase of rice, petroleum products, textiles and garments and surgical items. Similarly, negotiations for four more contracts are in progress, he added

He said Hong Kong delegation has also signed four contracts, while six orders are in the final stage of negotiation. Kenyan delegation has finalised four contracts with Pakistani exhibitors while four agreements are being negotiated.

Shah said Malaysian delegation has shown keen interest in enlarging free trade agreement (FTA) with Pakistan and expand number of items under trade. He said Brazilian delegation has also expressed keen desire to have joint ventures with Pakistani partners in chicken based food items.

Moreover, South Korean delegations are negotiating contracts for the purchase of cosmetic items, hand knotted carpets, cotton yarn and surgical items. They are also interested in having joint ventures to have biogas and bio fuel facility in Karachi.

He said foreign buyers have shown keen interest in the handicrafts of Pakistan, which are being displayed for the first time at Expo Pakistan 2010. “A very large buying house from France for various super markets has told me to make a bulk purchase of some handicraft items which are being displayed at Expo Pakistan”, he added. He said TDAP would hold seminars for these exhibitors in the near future to further expand their production capacity and designing expertise so that they can be able to meet export targets.

Shah said these exhibitors have been given the space free of cost at Expo Pakistan and also an allowance to encourage them to come to this mega exhibition.

He said trade delegations from Argentine, Japan, USA, Malaysia, Sweden and South Korea have met him on the second day.

Shah said Expo Pakistan was the outstanding success in the backdrop of global recession, disturbed law and order situation in the country and reluctance of foreign buyers to visit Pakistan in the presence of travel advisories from their countries.

He pointed out that top bosses and senior executives of large companies with huge turnovers and suppliers of 400 super stores have come to Expo Pakistan this year.

He added handicraft sector has attracted a lot of attention from foreign buyers and generated sufficient orders. This sector needs support, he added.