Despite global recession and inflationary pressure, Heimtextil 2023 has opened up new opportunities for Pakistan, which come in the face of economic tensions between the US and China, and thin participation of Chinese companies.
At the exhibition in Frankfurt, Pakistani companies have received export orders up to $500 million. Along with the traditional importers from Western Europe, buyers of Eastern Europe also showed interest in Pakistani products.
Meanwhile, goods importers of the US and Canada looked at Pakistan as an alternative to China. The four-day Heimtextil concluded on Friday, where Pakistani firms, undeterred by the tough economic conditions at home, participated enthusiastically as well as in record numbers. Besides large companies, small and medium-sized enterprises also seemed satisfied with the response received from customers. According to initial estimates given by exporters.
Pakistan received new orders and leads up to $500 million, for which design, sampling and pricing stages would be completed in a few months. All Pakistan Bed Sheets and Upholstery Manufacturers Association Chairman and Al Ghani Terry Mills (Pvt) Ltd Director Arif Ehsan Malik, while talking to The Express Tribune, called Heimtextil a very critical event for Pakistan’s home textile industry as well as economic stability. He said that this year, besides the traditional buyers from Northern and Western Europe such as Britain, Germany, France and Spain, buyers of Eastern Europe also visited Pakistani stalls and expressed deep interest in the products.
“US and Canadian buyers also took price quotes.” Malik emphasized that the exhibition could be a source of economic stability for Pakistan as it had the potential to help increase home textile exports up to $5 billion. Omega Group of Industries Director Farhatullah Sheikh pointed out that Pakistani firms received a very good response as Covid-19 was rearing its head again in China due to which buyers were avoiding Chinese goods. Activities at three halls remained low due to limited participation by China, which benefited Pakistan, he said. “Owing to global recession and inflationary pressure, the international buyers leaned towards Pakistan’s cheap and quality products.
Hello Textile Web News Desk