PFC to visit China for enhancing mutual cooperation in furniture sector

ISLAMABAD: Pakistan Furniture Council (PFC) will leave for China on November 2 to gear up efforts for further enhancing mutual cooperation between furniture manufacturing industries of both the countries.

The Prime Minister Imran Khan is paying his maiden official visit to China from Nov 2 to 5 on the invitation of the Chinese counterpart and discuss whole range of bilateral issues besides inking a number of agreements including business, said PFC Chief Executive Mian Kashif Ashfaq.

He said it is praiseworthy decision that Prime Minister is taking a high level delegation of businessmen on self finance basis accompanied by Finance Minister Asad Umar, Railways Minister Sheikh Rasheed and other officials and this tour will explore new heights in investment as well as production sector in Pakistan.

He said, the previous rulers Asif Ali Zardari of Pakistan Peoples Party and Mian Nawaz Sharif of Pakistan Muslim League (N) had jeopardized all sectors of economy, but always portrayed a rosy picture to masses.

He said that today Pakistani farmers and industrialists could not compete even with India and Bangladesh in the global markets.

He said Imran Khan deserved applause for taking businessmen into confidence framing business friendly policies to boost business activities in the country.

He said during this visit, they will meet with their business counterparts and explore different vistas to strengthen mutual relations in furniture sector as well.

Mian Kashif said Pakistan’s trade deficit with China has further widened to $9.7 billion in 2018 and Chinese products are replacing local goods and becoming a dominant force in the domestic market.

He said the current situation in furniture sector is not in favor of Pakistan despite this fact that Pakistan hand-made world class furniture is in great demand in international markets.

He said exporting furniture to China can be an uphill task for Pakistani manufacturers due to the neck to neck competition in Chinese markets but still many are succeeding to tap Chinese furniture market with patience and the right partners.

He said they would explore new markets and strengthening existing bilateral trade relations with their counterparts in furniture industry besides availing the opportunity to study about the latest designing of products and modern technologies in their fields to improve their businesses to compete global markets.

He said they will aim to link business leaders, researchers and investors of both countries, he said and added that the tour would enable investors to identify potential organisations to partner and developing successful regional economic strategies and support regionally vital businesses.

He said despite a small branch in the furniture industry, outdoor furniture contains huge market potential and they would try to exploit this branch as outdoor furniture is in great demand due to the Chinese government’s ever increasing attention to expand public gardens in China.

Mian Kashif Ashfiaq said that despite imbalances in volume of trade between Pakistan and China, economic and trade relations between Pakistan and China held great potential and there was dire need for Pakistani business community to focus on improving their competitiveness in the Chinese market.

He urged the businessmen to take full advantage of concessions granted by China under the China-Pakistan Free Trade Agreement (CPFTA).

He said that it is another good omen that first time in history, Prime Minister Imran Khan desired that all members of businessmen entourage accompanying him will bear all their own expenses and would not be burden on national kitty.