ISLAMABAD, Aug 17 (APP): A high level delegation of the United States furniture manufacturers will head to Pakistan to get five-days from 21 August to exploit fresh prospects of reciprocal investment in the business of furniture industry. The goal of the visit will be to further strengthen the existing bilateral trade connections with Pakistani counterparts, ” said Chief Pakistan Furniture Council (PFC) Mian Kashif Ashfaq here Thursday.
He explained that a PFC delegation had visited as bulk of the US furniture manufacturers in business to industry meetings show keen interest in Pak handmade furniture 34, US, that was effective and wanted to get investment and joint venture. He explained that the investors have been encouraged to pay a visit to PFC and Pakistan will extend all out help and expert co- operation besides making arrangements for discussion with Pak furniture makers in addition for them to facilitation. The US delegation containing Bilal Saglam and Ms Gizem Cigdem may possess one. They will visit furniture factory at Kurrianwala Faisalabad as the Ashley will be the world’s biggest maker of furniture using $ 4.6 billion earnings and more than 26,000 plus worldwide employees. He explained entire global trade in furniture has been estimated to be in the tune of about $23.2 billion, where the talk of wooden furniture is 77 per cent, followed by metal furniture at 17 percent and vinyl furniture at 6 per cent. Italy is the world’s biggest exporter of furniture followed by Germany and Canada. United States is the biggest importer of wood furniture. He said Pakistan’s talk from the international wooden furniture market is insignificant, despite the fact that the nation has a history of innovation and workmanship within the area of furniture. He pointed out that furniture exports from Pakistan were hovering between $8.0 million to $12 million per annum, that didn’t reflect even a friction of the real possibility of the furniture industry. He explained that “Ashley” will also ink an Memorandum of Understanding with Pakistani leading furniture manufacturer ChenOne to enhance bilateral trade.