KARACHI - Foreign buyers and their Pakistani counterparts had quite a busy day on the third day of Expo Pakistan 2017 as number of business deals were negotiated, major highlights of which included the signing of various Memorandums of Understanding (MoU)

The show continued in the same rhythm as buyers and sellers went ahead with their business negotiations aimed at shipments both in the immediate future and extended over the next year.

Federal Secretary Commerce Younus Dhaga and Secretary TDAP Inamullah Khan held meetings with members of Sri Lankan Export Development Board.

The importance of the Free Trade Agreement (FTA) between the two countries was emphasised at the meeting, while the Srilankan Board showed their interest in the import of leather bags, jewellery, construction materials, rice, textile and sanitary-ware from Pakistan.

The commerce secretary offered members of the board the trade opportunity entailed in the provisions of GSP facility of Pakistan to increase their exports to the EU; besides, indicating the strength of construction sector of Pakistan for export to Sri Lanka.

Commerce Secretary Younus Dhaga promised to arrange their meetings with the textile, automobile and rubber manufacturers in the country.

A delegation of Qatari businessmen also called on the secretary commerce.  Increased prospects of trade between the two countries after the LNG agreement came under discussion.

Members of the delegation emphasised the need for a FTA between the two countries that could address the trade irritants like banking issues, pricing and freight matters.

The secretary said that TDAP had asked the CC Doha to arrange single country exhibition to introduce Pakistani textile, rice, sugar, cement, home textile, etc in the market.

An eight-member trade delegation from Uzbekistan, representing pharmaceutical, agriculture, CNG and food sectors, also called on the commerce secretary.

The secretary said that direct flights between Uzbekistan and Pakistan would be very helpful in ensuring smooth trade ties.

A delegation of businessmen from the Czech Republic also met with the federal secretary and showed their interest in the cosmetics, textile and fruit sectors. They were especially interested in the renewable energy sector.

The country is already doing business with Fatima Fertilizer, Sapphire and Orient Groups.

Besides that, a trade delegation from UAE also met with the secretary and informed him that they had signed business deals with M/s Dawn, M/s United King and M/s Big Bird.

Major highlights of the third day included signing of a MoU between Lahore Chamber of Commerce and Australia Pakistan Chamber of Commerce & Industry; an MoU between All Pakistan Gems Merchant & Jeweller Association and M/s Fakhar Malik Jewellery from Bahrain; and a Thailand company interested in signing Joint Venture with M/s Trading Vision, Lahore.

In addition, some Afghan companies also signed MoU with EPZA to invest in the purchase of land in EPZA (Karachi) worth $8 thousand to establish factory for processing of pulp and dry fruit.

The exporters of meat, dairy products & honey also got good response from the buyers in the show to their product range.

Besides, some buyers, who were interested in Pakistan’s sports sector, are planning to visit Sialkot to meet Pakistani firms there.