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Trade deals galore at apex textile exhibition

By our correspondents
April 30, 2017

KARACHI: A large number of foreign enterprises have agreed to enter into joint ventures with Pakistani industries at "IGATEX Pakistan 2017: The 10th International Garments, Textile Machinery & Accessories, Exhibition and Conference, a statement said on Saturday. 

 “During the course of exhibition many business deals were materialised, while many firms agreed to return to Pakistan to participate in the exhibition to be held in Lahore next year,” Saleem Khan Tanloli, chief executive officer FAKT Exhibitions, told the media that the closing ceremony of the four-day expo. 

Tanoli informed the media that thousands of visitors made their way to the expo to gain material information and sign business deals with local and international manufacturers of latest machinery. 

 “More than 550 companies from 35 countries including Germany, Italy, UK, USA, China, Switzerland and other countries participated in the exhibition,” the FAKT Exhibitions official said. 

He added that country’s textile sector, which desperately needs modern machinery and technology to compete with the rest of the world in the international market, had benefited greatly from the event.  “Textile sector contributes more than 60 percent to Pakistan’s export which needs special attention of government and other stakeholders,” Tanoli said. 

Responding to a question, he said that it is regrettable that despite being the event taking place in the vicinity the government dignitaries chose to stay away from it. 

“Even the top officials of Trade Development Authority of Pakistan (TDAP) did not bother to show up at the exhibition that took place in their backyard,” Tanoli said protesting and added, “Sindh governor, chief minister Sindh, federal commerce minister, and other government officials were duly invited to visit and encourage the participants.” 

Moving forward, he observed that down the line, country’s exports would increase in the wake of a number of incentives given by government and also due to the introduction of latest technology mainly in the textile sector. 

Responding to a question about China-Pakistan Economic Corridor (CPEC) related investment in Pakistan, he stressed the need for taking local industries into confidence by considering the impact of foreign investment under the mega project.

Terming the expo as the most successful event of the series, Tanoli said that this exhibition was playing a vital role in the introduction of the latest machinery to the local industries.