Expo expected to fetch $1b worth of orders

Attention: open in a new window. PDFPrintE-mail

KARACHI: With more international buyers committing to arrive this year, the Trade Development Authority of Pakistan (TDAP) is targeting business deals of $1 billion from its annual flagship exhibition – Pakistan Expo 2012 – starting from October 4 in Karachi.


“Last year, we got foreign orders worth $517 million when 500 overseas buyers visited the Expo. Going a step further, this year we are targeting $1 billion worth of orders,” said TDAP Chief Executive Tahir Raza Naqvi while speaking at a pre-event press conference at the TDAP head office here on Monday.


Naqvi, who took office two months ago, said at least 670 buyers from 70 countries had confirmed their participation in the Expo, which will continue until October 7, and expected the total number to cross 1,000.


“This year, we are expecting more foreign buyers than last year, so we anticipate much more business deals between local and foreign businessmen,” he said.


“This is our flagship event and provides a good opportunity to dispel the negative impression of Pakistan from the minds of foreign businesspersons,” said Naqvi. “We are using all our resources to make the event successful because Pakistan desperately needs such events to showcase ‘Made in Pakistan’ products.”


He claimed that gradually the Expo was gaining popularity not only among local exhibitors, but also among foreign buyers.


Replying to a question, he put expenditures made on Expo 2011 at Rs90 million and said the expenses would be restricted to Rs100 million this year. “We know we have limited funds, which is why we are trying to make the most from our limited resources.”


TDAP will try to take the help of technology to follow up expected business deals. “We want to make sure that local exhibitors and foreign buyers build up long-term partnerships so that we can attract more foreign buyers in coming years.”


Among foreign visitors, 35 buyers are expected to come from Japan, 68 from Malaysia, 35 from Poland, 22 from Spain, 23 from India, 18 from Russia and 16 each from Brazil and Nigeria.


Like previous year, TDAP is also organising a fashion show to promote the country’s textile products and designer lawns, which have got extraordinary response in Indian and other foreign markets in recent years.


TDAP officials are very pleased to see the popularity of Pakistani brands of designer lawns in foreign markets, especially India, something they especially promoted in recent years.


TDAP has booked all six halls at the Karachi Expo Centre and 300 stalls have already been sold to local and foreign exhibitors. Its officials claim that they have sold all stalls without giving any concession to local exhibitors in order to attract only serious exhibitors to make the event successful.


They are expecting better response this year and have booked 500 rooms in five-star hotels in Karachi at a discounted rate of $100 a day, which is at least 50% less than the market rate.


The first two days of the exhibition will be open for foreign buyers only while the last two days will be for general public.


Courtesy: Tribune

Forex open Market rates & comments Archive

Login Form