TEXPO attracts $600mn export orders

[Shahzaz ud din]

TEXPO attracts $600mn export orders
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APP
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April 14, 2019
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Secretary Commerce Sardar Ahmad Nawaz Sukhera addressing at Envoys Conference at Expo Centre Lahore on April 14, 2019
LAHORE: Pakistan’s biggest textile exhibition at the government level, TEXPO-2019, has attracted $600 million trade through export orders by foreign buyers, claimed Federal Commerce Secretary Ahmed Nawaz Sukhera while talking to the media at the end of the second edition of TEXPO here at the Expo Centre Lahore on Sunday.

Sukhera said that 363 foreign buyers from more than 50 countries participated in the TEXPO-2019 and placed their orders. So far, he added, trade agreements worth US$600 million had been signed and the process would continue.

He said foreign buyers also inked 10 memorandums of understanding (MoUs) with local export houses, besides visiting field and industrial units in Lahore, Sialkot and Faisalabad.

“More than 5,000 business-to-business (B2B) meetings were also held on the sidelines of TEXPO-2019, which will definitely help boost country’s textile and its related exports,” he added.

The secretary further informed that delegations from various countries including Russia, Bahrain, USA, China, Japan, UK, Germany, Saudi Arabia, Czechoslovakia, Nigeria, France, Netherlands and Spain actively took part in the TEXPO.

Around 231 exhibitors including new entrants from across Pakistan put their products on display. Leading fashion designers and textile houses and retail brands also showcased their latest collections.

He said that special initiative of bi-annual event of TEXPO had been taken by the Trade Development Authority of Pakistan (TDAP) with prime objective of enhancing country’s exports through comprehensive display of diverse Pakistani textile and clothing products.

The TEXPO-2019 also featured a Trade Envoys’ Conference on the last day where the stakeholders from the industry and the government exchanged their opinions. The TDAP also organised a two-day seminar, attended by leading exporters from various sectors.

The 1st edition of TEXPO was held at Karachi in 2016.

 

[Dubious]

Source: https://profit.pakistantoday.com.pk/2019/04/14/texpo-attracts-600mn-export-orders/

 

[Maxpane]

not a bad start

 

[FuturePAF]

Good Start, but whats the plan to get textile export to the tens of billions? We are in debt so we can have reliable electricity supply for these industries, but we don't have enough orders lined up to cover the debt?

Has the government published any road maps to rebuilding export industries, or at the very least a list of what needs to be done so that FDI can come in so that we can get our exports up?

Our minimum wage are nearly those of Bangladesh, and we have a steady supply of raw materials. any idea what is the missing factor? maybe we need to rebuild links and build up business over time? we should try to get Chinese textile companies to relocate to Pakistan. $105/month in Pakistan versus china's $460/month minimum wage in china should make the shift profitable for them again.

 

[Mamadouso]

Good Start, but whats the plan to get textile export to the tens of billions? We are in debt so we can have reliable electricity supply for these industries, but we don't have enough orders lined up to cover the debt?

Has the government published any road maps to rebuilding export industries, or at the very least a list of what needs to be done so that FDI can come in so that we can get our exports up?

Our minimum wage are nearly those of Bangladesh, and we have a steady supply of raw materials. any idea what is the missing factor? maybe we need to rebuild links and build up business over time? we should try to get Chinese textile companies to relocate to Pakistan. $105/month in Pakistan versus china's $460/month minimum wage in china should make the shift profitable for them again.

I think the reputation needs to be rebuilt but it will take time. Pakistan used to be reknowned as world leader in this trade but I think many garment conglomerates want to return however maybe wary of sinking money in and then worry about electricity disruption and worker apathy.

 

[Kabotar]

Good Start, but whats the plan to get textile export to the tens of billions? We are in debt so we can have reliable electricity supply for these industries, but we don't have enough orders lined up to cover the debt?

Has the government published any road maps to rebuilding export industries, or at the very least a list of what needs to be done so that FDI can come in so that we can get our exports up?

Our minimum wage are nearly those of Bangladesh, and we have a steady supply of raw materials. any idea what is the missing factor? maybe we need to rebuild links and build up business over time? we should try to get Chinese textile companies to relocate to Pakistan. $105/month in Pakistan versus china's $460/month minimum wage in china should make the shift profitable for them again.

Government have lowered gas and electricity for them also released their tax rebates. It is now up to them to compete and win orders

 

[Kabotar]

I think the reputation needs to be rebuilt but it will take time. Pakistan used to be reknowned as world leader in this trade but I think many garment conglomerates want to return however maybe wary of sinking money in and then worry about electricity disruption and worker apathy.

Quite the contrary at the moment Pakistan is sitting on excess electricity and paying capacity charges

 

[FuturePAF]

Government have lowered gas and electricity for them also released their tax rebates. It is now up to them to compete and win orders

but we need investment attraction managers to connect these companies and foreign investors and foreign companies needing manufacturers.

our government should be at every trade fair around the world trying link up foreign companies and our manufacturers. we need to study Bangladesh, Vietnam, China, and India.

if smaller local companies are afraid to invest, we need to convince some of the top industrialists to lead by example and reinvest openly in a big way. As for worker apathy, we need to get to the bottom of why they are apathetic, incentive programs like night school and training to move on to work in the textile industry they want to do, or programs to help them afford housing should be looked into.

 

[Mamadouso]

Quite the contrary at the moment Pakistan is sitting on excess electricity and paying capacity charges

That is surprising, I have read many poster on here say it is getting worse again, someone mentioned in Lahore city it is many hours.

 

[Kabotar]

That is surprising, I have read many poster on here say it is getting worse again, someone mentioned in Lahore city it is many hours.

Installed capacity is 34k MW dependable capacity is 26k MW while haven't heard of usage exceeding 24k MW in summer. Planned power outages are done to areas where recovery is less than 80%.