TRADE

 

1- HIGHLIGHTS OF THE MEGA EVENT EXPO-2005
2-
SAFTA AN UPDATE

 

HIGHLIGHTS OF THE MEGA EVENT EXPO-2005

 

Exhibition might help promoting Made-in-Pakistan label

 

By AMANULLAH BASHAR
Feb 07 - 13, 2005
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The Expo-2005, the mega event showcasing the goods manufactured in Pakistan brought a windfall business for the tourist-starved hotel industry in Karachi as well as rest of the country as the delegates would be taken around major cities of the country.

All the major hotels of Karachi including Pearl Continental, Sheraton, Marriot, Avari Towers and Regent Crown Plaza, Beach Luxury besides major clubs and government guest houses were fully occupied by the visiting guests.

Since room occupancy in all the hotels was fully utilized, the hotel managements took advantage of the situation by increasing the room charges exorbitantly, it is learnt.

One of the significant outcomes of the exhibition is likely to be promotion of Made-in-Pakistan label, which was still missing on the goods produced in Pakistan. Though certain goods especially the textiles, garments, bed linen, leather and leather made-ups, surgery and sports goods besides a variety of food and agriculture items and other non-traditional items have carved a respectable place in the world market yet the culture of Made-in-Pakistan label was still missing on our products.

Though some of our products are much popular in the export market yet they are being sold either without identifying name of the country of origin or with the label of popular brand names of other countries.

Such events where a large number of buyers had also visited probably help in introducing the name of the manufacturing country as well as ultimately help increase the price level of Pakistani goods in the international market.

Besides growth in exports, the introduction of Made-in-Pakistan label will be the most significant outcome of the Expo-2005 which was visited by trade delegations from over 77 countries and the representatives of trade and industry. The exhibition was held last week in Karachi.

This significant event has also provided opportunity to the trade and industry representatives to have a one-to-one interaction which obviously help promoting trade relations with the visiting countries. A number of agreements and MoUs were also signed especially in different spheres of trade and industry which are expected to produce results in the days to come.

President General Pervez Musharraf, who inaugurated the mega event of Expo-2005, the largest industrial exhibition organized in Pakistan so far has expressed the hope that Pakistan was destined to emerge as the hub of trade and economic activities in the region.

The exhibition, which was attended by the representatives from 77 countries, was in fact a glimpse of the economic growth and achievements during recent years in Pakistan. The President said that Pakistan's geo-strategic location, consistency in its policies, and efforts to develop a strong infrastructure especially in the communication sector would turn the country into a centre of business activity. He invited the foreign delegates at the Expo-2005 to look at Pakistan in the perspective of its key geo-strategic location as the regional hub due to its advantageous location which provides a corridor to the huge market of Central Asian States, the Gulf, The Western parts of China and South Asia.

 

 

The President expressed the hope that the historic event of Expo-2005 would help dispel the misperception about Pakistan and project the ground realities and its economic potential to the rest of the world. Pakistan was on the forefront in fighting against terrorism and the government was striving for a societal transformation so that the vast majority might get voice and contain the handful of the extremist minority.

The economic turnaround in Pakistan and a string of internationally acknowledged achievements clearly established that Pakistan had awakened and was an emerging economy and a dynamic country. Pakistan held out great promise for investors as it offered a conductive environment, where investment enjoyed legal protection and foreign entrepreneurs enjoy a level playing field with a plus point of talented but inexpensive workforce.

Pakistan was well prepared to achieve a growth rate of 7.5 per cent during current financial year, the President said and added that the country offers a double digit rate of return on investment which can even go up to 50 percent. This can be described as the best rate of return on investment anywhere in the world while the history shows that the foreign investment was never harmed in Pakistan even in the days when the theory of nationalization was introduced in 70s even at that stage no foreign investment was either taken over or nationalized. Terrorism was not a problem in any part of the country including Karachi, Lahore, Faisalabad and Gujranwala, in fact these are the places where business takes place and flourishing. Pakistan had been able to break the back of extremism and terrorism, "let me assure you with full confidence that your investment will be secure in Pakistan. Pakistan enjoys a stable economy today', the President said with a sense of confidence.