The international chain Zara Inditex has officially announced that it is opening its buying house in Karachi. This was conveyed by Jose Manuel Romay de la Colina, representative of Inditex Group/Zara/Massimo Dutti etc., at a recent meeting with Commercial Counselor, Dr. Muhammad Hamid Ali, at embassy of Pakistan in Spain and officially confirmed opening of its Buying House in Karachi.
According to an official statement, this has been materialized due to Pakistan embassy and it's Commercial Section in Spain's sustained pursuance with Inditex Group, which comprises of 8 international renowned brands (Zara, Massimo Dutti, Pull & Bear, Bershka, etc.) Inditex Group has opened its buying house in Pakistan first time ever.
Romay, the statement said, was hopeful that due to the presence of Buying House it is likely that Inditex Group will double its imports from Pakistan in the coming year or two with additional technical collaborations in the field of textiles and design. This important development will go a long way in furthering Pakistan's exports and building technical collaboration in the field of textile between Pakistan and Spain.
It is also worth mentioning positive developments in the field of bilateral trade between Pakistan and Spain. Exports of Pakistan to Spain have reached $ 405 million in the first five months of financial year 2017-18 which is likely to reach $ 550 million once as data of December 2017 is included in the total exports. In terms of value the maximum increase in exports from Pakistan to Europe took place in Spain.
"We are sanguine that for the first time in Pakistan and Spain bilateral trade history, our exports to Spain will cross $ 1 billion mark during the current financial year of Pakistan," said Dr. Muhammad Hamid Ali. Similarly, it will also likely cross one billion dollar as per the financial year of Spain which is from January 2017 to December 2017.-PR
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