Business projections likely to touch $1.2 billion at Single Country Exhibition
KARACHI: The Trade Development Authority of Pakistan (TDAP under the Ministry of Commerce, organised a Single Country Exhibition from January 15-17 at the BMICH Colombo, Sri Lanka.
The exhibition was organised in four halls. As many as 125 exhibitors, including leading exporters of Pakistan, set up their stalls while over 750 buyers/ importers from Sri Lanka visited the exhibition. This exhibition provided a great platform for both the countries to strengthen their bilateral relations.
TDAP facilitated the exhibitors and buyers/importers specifically through 3,285 business-to-business (B2B) interactive meetings.
These meeting were especially held to open more trade avenues between the business communities of both countries.
The Pakistani companies represented different industries including auto parts, pharmaceutical, textile, handicraft, cosmetics, furniture, leather and IT sectors.
TDAP Chief Executive S M Munir and TDAP Secretary Rabiya Javeri Agha visited the stalls and assured the exhibitors that the FTA would be made more effective in the best interest of both the countries.
The Export Development Board and Ceylon Chamber extended full support to the Single Country Exhibition and remained present along with their senior management in the hall allocated to for business meetings.
TDAP also set up a B2B Secretariat to coordinate and conduct all business interactive meetings during the subject event. The B2B core team was assisted by three assistant managers and 10 GRO’s hired from business management universities specifically for this purpose.
The business-to-consumer (B2C) component was also very successful, as the Pakistani companies received an overwhelming response from the Sri Lankans and most of the exhibitors sold out all their stock.
Sri Lankan Ministry of Health Director Dr Amal Harsha De Silva held a detailed session with the Pharma companies and shared that if Pakistani firms would come through the relevant chamber, then the company registration procedure can be completed within a month. He also suggested that Pakistani firms related to the healthcare sector might also take part in the upcoming exhibition.
“The National Medical Equipment Lab & Pharmaceutical Expo, 2016” going to be held on May 18-19, 2016 would involve Pakistani firms and relevant stakeholders including hospital owners, members from technical evaluation committee, government officials from health sector as well as procurement officers from government and private sector.
Growth opportunities: Few Pakistani companies from auto and pharma sector showed interest in establishing their own offices in Sri Lanka keeping in view the potential. One joint venture has been finalised in the auto sector that would contribute in Pakistan export at least $15 million per anum.
Pakistani three wheelers’ companies have decided to leave their sample vehicles in Sri Lanka on the request of Srilankan importers as well as on the request of their BOI chairman.
The All Pakistan Furniture Manufacturers Exporters Association (APFEA) chairman received an order from a Sri Lankan group having worth of $30 One Pakistani firm dealing in frozen food has finalised a distributor in Sri Lanka as well as received an order of one 40 ft container.
Due to the business interactive meetings, serious negotiations, business deals at initial stage, business interest shown, deals finalised and deals matured, business projections are likely to touch $1.2 billion.
The sectors in which major interest was shown included auto, pharma, engineering, fruits and vegetables, garments and textiles.
It is further added that a large number of Pakistani exhibitors visited the offices of Sri Lankan companies and held meetings at lunch and dinner outlets to further negotiate their business The big buyers from Sri Lanka have contacted Furniture Association of Pakistan and invited them to visit their office to discuss prospects for the supply of furniture.