Pakistan Furniture Council (PFC) Delegation To Visit Sri Lanka For Seeking Furniture Markets And Investments

A delegation of Pakistan Furniture Council (PFC) will visit Sri Lanka to explore new avenues for cooperation in infrastructure development, policy and institution development, superior technological capabilities,

ISLAMABAD, (UrduPoint / Pakistan Point News - 25th Apr, 2018 ) :A delegation of Pakistan Furniture Council (PFC) will visit Sri Lanka to explore new avenues for cooperation in infrastructure development, policy and institution development, superior technological capabilities, modernizing work force in knowledge ,skills and attitudes,and marketing and investment opportunities in furniture sector.

In a statement PFC Chief Executive Mian Kashif Ashfaq said that the possibilities of usurping the potential of furniture trade with Sri Lanka to expand Pakistani handmade world class furniture export would be discussed, which will be helpful for boosting of the economy besides generate new jobs.

He further said Pakistan can easily double exports to Sri Lanka in a year's time by effectively using the duty concessions under the Free Trade Agreement (FTA) and if the steps would be taken timely in right direction, Pakistan's exports to Sri Lanka to be $500 million from the current $267 million.

He said the trade balance is heavily in favour of Pakistan. "Its exports to Sri Lanka amounted to $267 million while Sri Lankan exports to Pakistan were worth just $58 million," he added.

"Sri Lanka mainly exports textile products like men's T-shirts while it imports bed wear, trousers, silk and synthetic textile and other ready-made garments.

"Pakistan's exports are slowly growing and it can further increase its share." Mian Kashif said Pakistan needed to move from traditional cotton cloth to value-added furniture products to increase its exports.

Mian Kashif said furniture trade with Sri Lanka is at its lowest level and there is a dire need to explore furniture markets in this part of the region. He said "we should focus on intra-regional trade so that this South Asia can foster to meet the modern challenges." He said Sri Lankan furniture producers are targeting middle East and European markets but Pakistani furniture industry is also equally enjoying a superb potential to compete.

Therefore, efforts must be made to promote furniture exports by more regular participation in international shows. All this can happen if there is government's strong will for it and a vision among furniture traders.