LAHORE: A 10-member delegation of Pakistan Furniture Council (PFC) will participate in Intertextile Shanghai fair starting from August 27th at Shanghai China to showcase their products to attract foreign buyers and investors.
PFC Chief Mian Kashif Ashfaq presiding board of directors’ meeting held here Friday, said the fair will provide an opportunity to explore new avenues by sharing vision, expertise for formulation of future policies, economic studies, sectoral and project specific reports besides promotional efforts.
He said PTI government under the dynamic leadership of Imran Khan is working on strengthening and improving Pakistan’s relations with China. He said during one-on-one meeting with their counterparts in China, they would impart in details to Chinese investors about the philosophy and vision behind “Naya Pakistan” which will give them free of hurdles opportunities of investment in Pakistan.
“Pakistan has made progressive strides recently for improvement of ease of doing business and created a favorable environment to attract investment. Pakistan’s large population and geo-strategic location makes it an ideal investment destination,” he added.
He further apprised the meeting of the current economic position, despite imbalances in volume of trade between Pakistan and China, economic and trade relations between Pakistan and China held great potential and there was dire need for Pakistani business community to focus on improving their competitiveness in the Chinese market.
He urged the businessmen to take full advantage of concessions granted by China under the China-Pakistan Free Trade Agreement (CPFTA).He said that the trade increased despite the fact that Pakistani businessmen used only 3.3% of the total tariff lines. He said Pakistan could only export in 253 tariff lines out of the total 7550, where average export value was $500.
He said that there was a great demand of Pakistani furniture products abroad as its designs are unique besides popularity of properly processed high quality wood for its durability.
He said exporting furniture to China can be an uphill task for Pakistani manufacturers due to the neck to neck competition in Chinese markets but still many are succeeding to tap Chinese furniture market with patience and the right partners.
Mian Kashif said despite a small branch in the furniture industry, outdoor furniture contains huge market potential and they would try to exploit this branch as outdoor furniture is in great demand due to the Chinese government’s ever increasing attention to expand public gardens in China.
PFC Chief said Pakistan has the capacity to gain its fair share in international markets. However, the government needs to provide robust backing to the furniture industry, otherwise, individual efforts may not fetch coveted results, he added.
Secretary PFC Aqal Sardar said if Pakistan can earn foreign income of $8 million to $12 million in a year from furniture exports, a sizable spike in these figures can be seen if effectual and appropriate measures are taken by furniture manufacturers in Pakistan and vigorous support is provided by the government.