5 PFC Trade Delegations To Explore European Market This Month
LAHORE, Jan 4 (UrduPoint / Pakistan Point News - 04th Jan, 2017 ) : The Pakistan Furniture Council, an apex body of furniture sector, will send five high-level delegations comprising leading furniture exporters and importers to European countries for promotion of trade links through mutual collaboration in areas of common interests in the second week of this January.
Chairing monthly meeting of PFC Executive Committee here on Wednesday, the Council Chief Executive Mian Kashif Ashfaq said the PFC would send delegations, one each to Italy, Portugal, Germany, Denmark and United Kingdome to explore avenues of export of 'Made in Pakistan Furniture' and share expertise, new designs and modern skills with their counterparts.
Mian Kashif added that delegates would also study new trends and requirements of interested clients, as there was a great demand of Pakistani furniture abroad due to its unique designs, besides popularity of properly processed high quality wood for its durability.
He said, Europe is Pakistan's most important and largest trading partner accounting for 21.2 percent of Pakistan's total exports and 16 percent of its total imports. Pakistan's exports to Europe were dominated by textiles and clothing as well as leather products, while Pakistan's main imports from Europe are included mechanical and electrical machinery, and chemical and pharmaceutical products.
However, the trade volume between Pakistan and EU was not very impressive, as compared to the volume between EU and India, he said and asserted that business community of Pakistan is needed to explore European market and exploit its potential to maximum.
In this regard, he mentioned, the PFC was focusing on marketing activities in key markets of the EU and coordinated efforts were being made for holding exhibitions; websites; international trade fairs and in-depth market analyses.
Establishment of joint ventures with foreign producers of woods for provision of required machinery could bolster the quality of Pakistani furniture products and bring them at par with international standards.
"Therefore, there is a dire need to transform our furniture business from cottage or small scale to highly innovative industry, for which training of skilled labour and high-end supplies are required,he underscored.
Mian Kashif Ashfaq said Pakistan did not have globally well-known trade market which could convince international business community about innovation and quality of Pakistani products. He suggested the government to encourage and support business houses to invest and develop trust worthy trade markets.
There is a need for holding exhibitions in EU member states to raise awareness about Pakistan's traditional and innovative products, he added. He said, Europe would be the biggest market for Pakistan's textile products in future; however, Pakistan should also focus on other exportable products to increase its share in European market and reduce dependence on traditional exports.
In Pakistan, he said, most of the furniture was hand-made but still it was very cheap and could be marketed in EU countries at a better price. He said, Pakistan Furniture Council was also interested in exploration of new furniture markets in Nordic countries including Denmark, Finland, Iceland, Norway and Sweden.
He said bilateral trade between the EU and Pakistan stood at Euro 10.5 billion in 2015, however, trade between Pakistan and the seven Nordic countries remained at around Euro 150 million. "The PFC is focusing on furniture-related items to ramp up its export revenue in Nordic region; it is high time that Pakistan's exporters should look out of the box," he suggested.
PFC General Manager Hamid Mahmood also gave a detailed presentation to members about the prospects of proposed visits, while Manager PFC Adnan Afzal will co-ordinate with delegations during their foreign visits.