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GTex expo concludes with $18m business deals

YarnsandFibers News Bureau 2017-01-23 12:00:00 – Karachi

The three-day GTex International B2B Textile Machinery Brand Expo the best sourcing platform in Pakistan organized by Global Enterprise concluded yesterday with $18 million matured business deals and many more in pipeline.

Sindh Minister for Transport Syed Nasir Hussain Shah was chief guest at the closing ceremony of the event, who visited stalls and interacted with foreign and local exhibitors.

On this occasion, Syed Nasir Hussain Shah said that the textile sector was being ignored in Pakistan for the last many years and urged the federal government to provide support this sector. Textile exports are in decline as the Pakistani exporters are unable to compete in the international market due to heavy cost of production. Such expos should be held on a regular basis to boost business opportunities.

He said that the FBR should resolve the refund issue facing the exporters. Exporters were waiting for about Rs250 billion refund amount.

Nasir Hussain Shah also visited EPZA Stall. An EPZA officer briefed him about the purpose of launch of the KEPZ Phase-III extension and provision of promotional facilities to investors of the Karachi Export Processing Zone. He appreciated efforts of the EPZA to increase exports and earn foreign exchange as well as help build a good image of Pakistan in the international market.

Global Enterprise CEO Mujib R. Siddiqi termed GTex expo a huge success. He said that $18 million business deals matured during the expo and many more were in the pipeline.

People from China, Japan, Australia, Taiwan, Italy, Turkey, Germany, Switzerland, Spain, Sweden, Netherlands, Czech Republic, India, Hong Kong, France, Austria, Iran, Korea, Ireland, Malaysia, Belgium, UK, USA and Singapore participated in the event with more than 670 major partner brands.

GTex Expo provided a great business opportunity to importers and exporters. GTex is the largest and the most successful expo of its kind in the region in which all leading international brands from textiles, garments, leather, digital printing, embroidery machinery, accessories, chemicals, dyes and energy sectors participated and displayed the latest innovations.

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