Former adviser to prime minister on Textile Industry Dr Mirza Ikhtiar Baig said here on Sunday that the country is expecting business deals worth $700 million during Textile Asia Exhibition.
Baig, who was chief guest at the 14th Textile Asia Exhibition, during his conversation with media persons at the Expo Centre said: “We have organized businessmen to businessmen (B to B) meetings among the local traders and foreign delegates at this mega event and expect to have business deals worth $700 million.”
He said that the purpose of organising the exhibition was to further upgrade and equip the local textile sector with latest technology being used internationally. Some 386 business delegates from 39 countries are visiting the exhibition where around 515 international and 35 local companies are showcasing their brands, he added.
The machinery and equipments which are on display at the exhibition were producing value added products for increasing volume of exports, he said and hoped that local businessmen would benefit from this technology by adding value to their products.
“In fact, despite all odds and challenges we are working on war-footing basis to attract the foreign investment in Pakistan. Today we have succeeded in bringing the international business community here and the foreigners with whom I talked are quite satisfied with the city’s environment for doing business and they are motivated to invest in the port city. This increasing level of trust among the foreigners is a good omen for our future,” he added.
Speaking on the occasion, President of E-commerce Gateway Pakistan, Dr Khorsheed Nizam, said that participation of both local and foreign traders in the exhibition this year was unprecedented. The local traders are taking keen interest in technology and machineries being showcased by international exhibitors here. Of the total 415 exhibitors in this show, China’s participation is almost 50 per cent, he added.
