Two-days 5th Color & Chem Expo was inaugurated by Mr. Almas Hyder, President, Lahore Chamber of Commerce & Industry alongwith Abdul Rahim Chughtai, Patron-in-Chief PDCMA, Khawaja Khawar Rasheed, President Lahore Region of PDCMA, Mr. Tian, Chairman CIDA, Rashid-ul-Haq, Director Event and Conference International, the organizer company of expo in Lahore today.
On the event, it was disclosed that more than five Chinese companies are interested to launch joint ventures (JVs) with Pakistani partners to commission industrial units for manufacturing of dyestuffs in country. If desired partners are identified, this opportunity will attract US$50 billion investment and can be materialized within six months. This is an enhancement of MoU signed between Punjab Dyes & Chemical Manufacturers Association (PDCMA) and China Dyestuff Industry Association (CIDA) in last edition of this successful exhibition.
Pakistani business leaders, traders and other local exhibitors have also urged to start JVs as soon possible to get maximum benefits of zero rated new budget and have contested that it will bring export cost to western world even more cheaper than China itself.
Chief guest Mr. Almas Hyder visited various stalls of local and international companies in hall number one and two and exchanged views with them about the industry.
Talking to media persons, President LCCI Mr. Almas Hyder stressed that foreign companies especially from China should now start joint ventures as industries will create employment. New budget has offered zero rated exports for various industries which should be exploited to get maximum benefits from it. Now exports to western world will be cheaper than China even, he added.
Appreciating efforts of organizers of this exhibition, Mr. Almas Hyder told that at present, all raw materials used in this industry are imported. We should encourage new industries to have it locally and save our foreign exchange. Such exhibitions also promote tourism in country which should be encouraged and supported, he concluded.
Talking to media, Rashid-ul-Haq, Director, Event and Conference International told that a number of foreign companies are also interested to start JVs to boos this industry . For this we are making all possible options to them, he said.
Over 200 local and international companies are exhibiting in this mega event organized by Event and Conference International, Raibnow Diatatic and Asia Dyestuff Federation. Foreign delegates are from China, India, Taiwan, Thailand, Germany, Turkey, UAE and UK, he further said.
We have already introduced digital printing exhibition as a concurrent event and have introduced latest machines, he concluded.
On this occasion, Patron-in-Chief PDCMA Abdul Rahim Chughtai shared that over five Chinese companies based mainly in its Xinjiang province are keen to start JVs and are looking for suitable local partners in Pakistan. If they find suitable counterpart, this can attract US$50 billion investment, he expected.
We have rear facilities of dyestuff manufacturing here in Pakistan despite the fact that Pakistan is the second largest importers of these stuff. Share of textile in Pakistan’s exports is 70 percent but we rarely have dyestuff manufacturing facility. This is raw material for textile industry and we can save this huge foreign exchange if have such facility here, he suggested.
Exhibition will continue till Sunday evening.