KARACHI: Commerce Minister Khurram Dastagir Khan has projected that business deals worth $1.3 billion have been signed at the Expo Pakistan 2015 making it a resounding success.

In a statement issued by the Ministry of Commerce (MoC), Khan was quoted as saying that 1,200 representatives from 77 countries visited the exhibition and showed keen interest in Pakistani products showcased by 571 companies.

Expo Pakistan 2015 was specifically distinct in its essence as the ministry and Trade Development Authority of Pakistan (TDAP) encouraged women entrepreneurs to participate and exhibit their products, the statement said. As a policy initiative, the MoC promotes businesses from less developed parts of the country, it added.

Many foreign buyers established contacts with exporters in Karachi, Lahore, Sialkot and Faisalabad and negotiated new orders, the minister said. He said that large number of foreign buyers also visited factories and production facilities.

According to details shared by the TDAP, visiting Japanese companies have shown interest to invest $25 million in pharmaceuticals, organic food items, sports goods and sleep-wears.

Two Dubai-based companies have finalised deals to import meat worth $15m and $10m annually.

Another Dubai based supplier to UAE government contracted for purchase of uniform and office accessories with initial imports at $1m, to be enhanced to $10m in the near future.

Similarly, a Saudi company signed an agreement with a local company for supply of tents and canvas worth $6m while a Bangladeshi firm has entered into an agreement for importing sports goods worth $2m from a Sialkot based company.

The gems and jewellery sector also received orders worth $20m. A Bangladeshi importer entered into an agreement with local exporter for the supply of fruits and vegetables worth $3.36m.

The TDAP sources said sectors in which major interest was witnessed included building material, services, engineering, fruits and vegetables, surgical goods, garments and textiles, and gems and jewellery.

Published in Dawn March 3rd , 2015

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