Expo Pakistan fetches $ 517m orders

KARACHI, Oct 24 (APP): Export orders worth $ 517 million have been finalised for various products at the 6th Pakistan Expo 2011, which was opened last Friday at Karachi Expo Centre. This was stated by the chief executive of Trade Development Authority of Pakistan (TDAP) Tariq Puri while addressing a press conference at the venue of exhibition here Saturday. He said that around 1,650 business meetings were held between the buyers and the Pakistani exhibitors and manufacturers, while 1,093 foreign buyers visited at different products stalls. He pointed out that as much as 15 memorandums of understanding (MoUs) have been signed during the mega event. Puri said that a Hong Kong based company Ms Ormita has signed a MoU with a Pakistani food company Ms Alpha Dairies worth $ 120 million for the first year with a provision to go up to $ 300 million. He told newsmen that a Polish company is finalizing partnership deal with Pakistani company in IT Software with tentative business of $ 1 billion. Another Polish company is interested in partnership with a Pakistani company for setting up a flood rehabilitation centre in DHA with an initial investment of $ 122 million, he added. He said that Prime Minister Syed Yusaf Raza Gilani was presided the formal inaugural ceremony held in Governor House on October 19 while commerce minister opened the show on October 20.