Pakistan Furniture Council (PFC) high level delegation Wednesday on the third leg of foreign visit left for Spain to explore new vistas in furniture sector besides strengthening existing bilateral trade relations with their counterparts in furniture industry during business to business contacts
LAHORE ( (Pakistan Point News - 17th Jan, 2018 ) ) Pakistan Furniture Council (PFC) high level delegation Wednesday on the third leg of foreign visit left for Spain to explore new vistas in furniture sector besides strengthening existing bilateral trade relations with their counterparts in furniture industry during business to business contacts. According to a message received here, PFC Chief Executive Mian Muhammad Kashif Ashfaq said there as great potential in furniture sector in Spain and stressed that PFC will focus on promoting exports of furniture accessories to further improve bilateral trade volume with Spain.
He said the trade volume between the two countries has crossed the $2 billion mark annually , pushing economic ties in a positive direction. He said that in Pakistan most of the furniture is hand-made but still it is very cheap and could be marketed in EU countries at a high price. In this connection, Spanish firms could also play a major role in facilitating Pakistani manufacturers to have direct access to the potential customers. He said that Spain was located at a strategic location in Europe and Pakistan should develop close cooperation with it to get better access to the European market.
Promoting frequent interactions between private sectors of Pakistan and Spain was necessary to raise awareness about potential areas of mutual cooperation in furniture sector and improve bilateral trade between the two countries in this regard,” he added. He said we should focus on diversification of our exports to achieve better results. He said Spain was third largest trading partner of Pakistan in EU and 7th largest in the world.
However, there was more scope for improving trade relations between the two countries. Mian Kashif said law and order situation had greatly improved in Pakistan and PFC delegation would inform Spanish investors about emerging prospects for joint ventures and investment in China-Pakistan Economic Corridor (CPEC) projects and other sectors of Pakistan’s economy. He said PFC is also continuing its work to develop a Pakistani presence in more countries and to act as the focal point for Pakistani furniture designers and manufacturers to enter international market.
He said that Pakistan Embassy in Spain should also help identify opportunities for Pakistani products in Spanish market and share such information with local chambers of commerce so that businessmen could take measures to exploit unrealized business opportunities with Spain. He said Pakistani foreign missions should facilitate the business community in making connectivity with right counterparts that would help in promoting Pakistan’s trade and exports with foreign countries.
He said Pakistan's business community is not only targeting to step up exports to the EU, but is also striving to strengthen the partnership that will facilitate growth in trade with major partners such as the United Kingdom, Germany, Spain, Austria, Portugal, France and Italy. Mian Kashif said that furniture with calligraphic engraving had great demand in local and international markets, which seems to be the dominant one in Pakistan, therefore Pakistani craftsmen should focus on working in this particular area to earn the much-needed foreign exchange. In this regard he appreciated the role of PFC in bringing the latest technical know-how in Pakistan to develop the local Furniture Industry for manufacturing quality products competitive with the international market.
