US investors keen to explore investment avenues in furniture industry: PFC chief

ISLAMABAD-The Pakistan Furniture Council (PFC) Chief Executive Officer (CEO) Mian Kashif Ashfaq Sunday said that US investors have shown keen interest and wanted to further explore investment avenues in diversified furniture industry of Pakistan.

He said there is vast scope to increase furniture export volume due to an upward trend, as the demand for furniture and wooden products are on the rise in the US and European markets alongwith the domestic consumers. The PFC delegation led by its CEO returned to Pakistan after visiting United States for two weeks and explored new avenues of investment and further enhancing the exports, besides strengthening the economic ties between the two countries.

Talking to a delegation of tax consultants led by Mian Faiz Bukhsh here on Sunday, he said PFC held result-oriented dialogues with their counterparts for joint ventures in the furniture sector. “We are making special efforts to increase furniture export catering to the rising global demand,” he said, adding that delegation is also studying the latest products and technologies in their fields. Such business-oriented tours could play a pivotal role for Pakistani furniture manufacturers in achieving the export target of more than $1 billion annually in the international furniture markets, the PFC chief executive said. Pakistan’s major buyers of wooden furniture are the UK, US, Sri Lanka and Gulf countries such as the UAE, Saudi Arabia, Oman and Kuwait, he said, adding that the US buys mostly bedroom furniture.

Article source: https://www.nation.com.pk/27-Mar-2023/us-investors-keen-to-explore-investment-avenues-in-furniture-industry-pfc-chief