Deals worth $300m signed at Textile Asia Exhibition
Trade deals worth over $300 million were struck during the three-day 14th International Textile Asia Exhibition.
The exhibition was organised by Pakistan Readymade Garments Manufacturers and Exporters Association (PREGMEA), and it saw orders of $150 million on its first day. The organisers said PRGMEA and E-commerce Gateway Pakistan have also singed an MoU to jointly conduct this mega textile event for the next five years in Lahore. Addressing the concluding ceremony of the exhibition, PRGMEA Central Chairman Ijaz Khokhar said, “After the great response and huge success, PRGMEA and E-commerce Gateway Pakistan have decided to hold International Textile Asia Exhibition every year in August at Expo Centre Lahore for at least next five years.”
He said that around 55,000 people visited the exhibition during the first two days, while more than 100,000 visitors registered their presence in textile fairs in three days. The chairman said that the machinery and equipments displayed at the exhibition were of immense utility to manufacturers producing value added products for increasing volume of exports. He hoped that local businessmen would benefit from this technology by adding value to their products. He said that textile Asia Expo also featured businessmen to businessmen (B2B) meetings, a lot of important industry-related presentations and seminars on textile sector.
Ijaz Khokhar announced that this year’s show was dominated mainly by Chinese companies, “but next year we would invite the companies from Germany as well as from the whole Europe to showcase their brands in Textile Asia Exhibition in Lahore”. PRGMEA Vice Chairman Malik Naseer said that this textile machinery fair in Pakistan would increase productivity, resulting into better competitiveness. He said that the exhibition is aimed at focusing the Punjab’s potential of textile and garment machinery, accessories, raw material supplies, chemicals and allied services under one roof, as around 80% of textile industry locates in this province.
The exhibition also provided an effective platform for joint ventures and collaborations to the textile sector’s SMEs. Malik Naseer observed that the PRGMEA mega fair provided the local small textile industry the best opportunity where more than 350 international brands from around 29 countries displayed their products in more than 500 stalls. Dr Khurshid Nizam said that International Textile & Garment Machinery Show was 100 percent Pakistani brands’ show and the only UFI Approved Event of the industry in South Asia, which provided enormous opportunities of learning, information-sharing, mutual cooperation and combined projects to all the stakeholders in the textile sector in whole of South Asia.