US furniture manufacturers to visit Pakistan

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ISLAMABAD, Aug 17 (APP): A high level delegation of the United
States furniture manufacturers will visit Pakistan for five-days
from 21 August to tap new prospects of mutual investment in the
field of furniture industry.
The aim of their visit is to further strengthen the existing
bilateral trade relations with Pakistani counterparts, said Chief
Pakistan Furniture Council (PFC) Mian Kashif Ashfaq here Thursday.
He said that a PFC delegation had visited US, which was
successful as majority of the US furniture manufacturers in business
to business meetings have shown keen interest in Pak handmade
furniture products and desired for joint venture and investment.
He said that the interested investors were invited to visit
Pakistan and PFC will extend all out assistance and professional co-
operation besides making arrangements for direct interaction with
Pak furniture manufacturers in addition to fully fledged
facilitation to them.
The US delegation comprising Bilal Saglam and Ms Gizem Cigdem
from the US leading furniture brand Ashley Furniture Industries will
have one on one series of meetings with their counterparts.
They will visit furniture factory at Kurrianwala Faisalabad as
the Ashley is the world’s largest manufacturer of furniture with $
4.6 billion revenue and more than 26,000 plus worldwide employees.
He said total world trade in furniture is estimated to be in
the tune of $23.2 billion, of which the share of wooden furniture is
77 percent, followed by metal furniture at 17 percent and plastic
furniture at 6 percent.
Italy is the world’s biggest exporter of furniture followed by
Germany and Canada. United States is the biggest importer of wooden
furniture followed by Germany and France.
He said Pakistan’s share in the international wooden furniture
market is insignificant, despite the fact that the country has a
history of craftsmanship and innovation in the field of wooden
furniture.
He pointed that furniture exports from Pakistan were hovering
between $8.0 million to $12 million per annum, which did not reflect
even a friction of the actual potential of the furniture industry.
He said that “Ashley” will also ink an Memorandum of
Understanding with Pakistani leading furniture brand ChenOne to
boost bilateral trade.