Agreements worth $260m signed at 14th Build Asia Exhibition

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KARACHI: The three-day ’14th Build Asia Exhibition’ concluded successfully in Karachi on Monday, as it facilitated the signing of agreements worth $260 million between many local and foreign companies.

The event, held at the Karachi Expo Centre from December 15 to 17, was the largest exhibition of construction, real estate and housing industry, organised annually by E-Commerce Gateway Pakistan.

Around 70,000 people visited the three-day exhibition where local and foreign companies showcased products related to the construction and housing industries.

Two big companies from China have shown a keen interest in making huge investments in Pakistan. A company, Yuanda Group, has shown its interest to invest in the Prime Minister’s low-cost housing scheme. The company has planned pre-fabricated housings and China speed system for Pakistan, and, in this regard, held meetings with Sindh Governor Imran Ismail and Karachi Mayor Waseem Akhtar.

On the other hand, Zhu Gang, director of another major Chinese group, Liaoning Global Investment, said that China was giving priority to Pakistan in the Asian region, adding that leading Chinese investors were in constant contact with the Pakistani authorities to formulate further cooperation strategies.

Another multibillion-dollar group, Wuai and Yiwu, has shown keen interest to make Pakistan, especially Karachi, a commercial hub in Asia. Chinese wholesale market has intended to make Karachi as display and manufacturing place. In this regard, many businesses leaders from Liaoning Province, China, held discussions with Pakistani authorities.

On the occasion, E-Commerce Gateway Pakistan President Dr Khurshid Nizam said both the leading Chinese companies had shown an interest in utilising local manufacturing with the help of advanced technologies to market the products in Asia and Gulf markets.

The three-day mega event also included forums including CPEC constructions, gems and stone, low-cost housing projects and furniture.

Many foreign companies, including China, Iran and Turkey, showcased their products at the mega event.

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