KARACHI (our reporter):- The Chief Executive Trade Development Authority of Pakistan (TDAP) and Chairman Businessmen Group (BMG) Zubair Motiwala inaugurated the 24th Textile Asia Exhibition on Friday. Diplomats from friendly countries were also present on the occasion.
Speaking on the occasion, Zubair Motiwala said foreign delegates were also attending the expo, which was a positive sign, and added China, Turkye, Indonesia and other friendly countries were supporting Pakistan. “Such exhibitions portray a positive and creative image of Pakistan.”
“Increasing exports is the only way of bridging the trade gap, and it would also improve the foreign exchange reserves.”
To a question, he said appreciating dollar was detrimental for country’s economy. “Interest rate at the level of 20 per cent is not at all favourable for the business. CE TDAP said the issue with the opening of letters of credit was improving and lamented that Karachi Chamber of Commerce & Industry (KCCI) raised voice on all the issues of the business community, but the response from the concerned quarters was lethargic. Motiwala said that shipping companies had earned a lot from Pakistan, and in these testing times, shipping companies should provide relief pertaining to demurrage and detention.
Over 400 foreign delegates are participating in the 24th Textile Asia and 19th ITIF Asia Exhibition, while 550 local and foreign brands are showcasing their products at the exhibitions. Six halls of Karachi Expo Center are housing 778 stalls. Speaking at the inauguration, President Ecommerce Gateway, Uzair Nizam said the 24th Textile Asia and 19th ITIF Asia exhibitions will facilitate and promote exports. He expressed hope the number of visitors at the event would surpass last year’s figure.
Delegates from China, Türkiye, Belarus, Iran, Germany, Korea, UAE, Taiwan, Japan and Netherland are participating, and their respective brands are also showcasing their products. Counsel Generals of Iran, Türkiye, Indonesia, Belarus also attended the expo. The celebrities appreciated the efforts in organizing the event.