LAHORE: Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Tuesday said Pakistan local handmade traditional and world class furniture market, which is expected to grow in worth to over 10 billion dollars over a decade has a huge opportunity for furniture exporters across Asia.
Briefing a meeting of board of directors after successful tour of Canton Fair 2018 China here , Mian Kashif Ashfaq said foreign furniture producers and investors shown their keen interest in Pakistani furniture brands especially handmade traditional furniture. He said the fair provided an opportunity to explore new avenues by sharing vision, expertise for formulation of future policies, economic studies, sectoral and project specific reports besides promotional efforts.
He said they had one on one direct interaction with foreign business leaders, researchers and investors drawn across the world in China, he said adding the tour also provided platform to investors to identify potential organizations to partner and developing successful regional economic strategies and support regionally vital businesses.
He said Pakistan’s major buyers of wooden furniture are the UK, the USA, Sri Lanka and Gulf countries like the UAE, Saudi Arabia, Oman and Kuwait. The United States buys mostly bedroom furniture. UK and the Gulf countries import kitchen furniture and office furniture. For example, the British retail chain Harrods sells some Pakistani furniture at its outlets.
He further said they had also held very important meetings with their Chinese counterparts and they underlined the need of further enhancing collaboration with PFC to promote furniture business between the two countries. He said there are plenty of opportunities to increase furniture export volume to China due to its an upward trend, as the demand for furniture and wooden products are on the rise in Chinese markets along with the domestic consumers.
Mian Kashif said furniture demand in China is on the rise due to the increasing number of people engaging in household formation. There has been a significant rise in the number of women joining the workforce and living independently. As a result, there is a rising need for service apartments and single storey houses.
He said the potential buyers prefer to buy value-priced and high quality finished goods for dining and bedroom, leather and fabric upholstery, occasional and youth furniture.
He further said due to social media, great design has become more accessible through pop culture and customers come in knowing what they want because they have seen it on TV, in magazines or even in their travels.
He said the PFC will work closely with trend experts to create new items to ensure we cover these lifestyles, and our goal for new intros is to offer the perfect item reflecting consumers’ demands.—INP