ISLAMABAD: Peshawar, the economic hub of Khyber Pakhtunkhwa, is set to welcome its first Expo Centre following the approval of funding by the Export Development Fund (EDF) Board.
Minister for Commerce Jam Kamal Khan chaired the 85th meeting of the Export Development Fund (EDF) Board on 20th September 2024. The Board approved funding for the completion of the first Expo Centre in Peshawar to provide a platform for hosting international-level exhibitions for entrepreneurs of Kyhber Pakhtun Khwa.
Analysts say that the establishment of the Expo Centre in Peshawar will bring significant benefits to Khyber Pakhtunkhwa (KPK). It will serve as a vital platform for local businesses to showcase their products and services, attracting both national and international investors.
Experts suggest that this exposure can lead to increased trade opportunities and economic growth in the region, as Peshawar is strategically located at the cusp of trade with central Asian Countries such as Afghanistan, Kazakhstan, Kyrgyzstan Tajikistan Turkmenistan and Uzbekistan.
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Additionally, the Expo Centre will create numerous job opportunities, boosting employment rates and contributing to the overall development of the local economy. By hosting various exhibitions and events, it will also promote cultural exchange and tourism, further enhancing KPK’s economic landscape. Overall, the Expo Centre is poised to be a catalyst for economic prosperity and development in KPK.
Meanwhile, the board also approved 20 out of the 29 financial proposals worth more than Rs 8.5 billion targeting textiles, food and agriculture, gems and jewellery, defence sector as well as branding of overall Pakistan by participating in Expo 2025 in Osaka Japan.
The EDF Board also directed to share details of the proposed EDF-PSW MoU in the next meeting for proper analysis of the Board. The MoU intends to create two-way direct communication between EDF and exporters using the PSW platform for need analysis, impact assessment, market intelligence and sectoral/regional/ geographic tagging of exporters for targeted information sharing.
The projects included various marketing interventions such as the holding of international level exhibitions inside Pakistan such as expo 2025 by TDAP, IDEAS by DEPO, Gems & Jewellery Show by FPCCI, OIC-Conference and Wexnet targeting Women empowerment by TDAP etc. These exhibitions will not only support Pakistani exporters to exhibit their products but will be used as branding activities for Pakistan across the globe.
The project funding includes facilitation to international buyers through the provision of the best hospitality and the arrangement of B2B meetings for best match-making. The Board also approved projects linked to research and development (R&D) and technology acquisition which included the opening of UNIDO-assisted International Technology Promotion Offices at TUSDEC, Disease Diagnostic Research Centre for Mango at Sindh Agriculture University, Tando Jam, Design Centre at Pakistan Institute of Fashion Design, Lahore as well as establishment of Solar Tunnel Dryer for Exportable Dried Chilies at Umer Kot, Mirpur Khas and Badin.
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