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KARACHI: Several memorandum of understandings (MoUs) and joint ventures were signed on the sidelines of the Expo Pakistan at the Karachi Expo centre on Saturday.
Several B2B (business-to-business) meetings were also held between local and visiting foreign delegates with many maturing into MoUs and proposals for entering into joint venture.
Secretary Commerce Younus Dhaga along with Secretary Trade Development Authority of Pakistan (TDAP), Inaam Ullah Khan, held several meetings with the heads of foreign delegates. In a meeting with the head of Sri Lankan Export Development Board, importance of Free Trade Agreement (FTA) between the two countries was emphasised.
The Sri Lankan board showed keen interest in the import of leather bags, jewellery, construction materials, rice, textiles and sanitary ware from Pakistan.
A trade delegation of Qatari businessmen also called on the secretary commerce and expressed their desire to increase trade relations between both the countries.
The Qatari delegation stressed upon entering into FTA as it could help in removing irritants like banking issues, pricing and freight matter between the two countries.
An eight member trade delegation from Uzbekistan also held a meeting with the secretary commerce wherein it was discussed to arrange direct flight from Uzbekistan to Pakistan as it will be helpful in enhancing trade ties between the two countries.
A delegation from Czech Republic, interested in import of cosmetics, textiles, fruits from Pakistan, also sought cooperation in renewable energy. An MoU was signed between Lahore Chamber of Commerce and Industry and Australian Chamber of Commerce and Industry, according to the TDAP.
Moreover, All Pakistan Gems Merchants and Jewellers Association and Bahrain business group signed MoU.
Similarly, a Thai company has shown keen interest in signing a joint venture with a Lahore-based company.
The most encouraging development of the day was that Afghan-based companies signed an MoU with the Export Processing Zone Authority (EPZA) to invest and purchase a piece of land in EPZA (Karachi) to set-up pulp and dry fruit processing plants.
Published in Dawn, November 11th, 2015
