“Only US furniture demand at the manufacturers’ level is forecast to reach $59 billion in 2021″
May 14, 2018 (BE2C2) — Pakistan Furniture Council (PFC) will display Pakistani handmade world-class traditional furniture products at the Mexican International Furniture Fair to be held from May 23.
This was decided at a board of directors meeting held under the chairmanship of PFC Chief Executive Mian Kashif Ashfaq in Lahore on Monday. He said there is no doubt that Pakistan must explore trade and investment opportunities in South American countries including Mexico, Argentina and Brazil.
Kashif said all PFC directors discussed in details about the possibility of enhancing furniture trade in Latin America and we are all in agreement that there is a great scope for Pakistani handmade furniture in Mexico. “We are talking about a huge market of around 120 million people.
The average age of youth in this region is around 25 or 26, so in a few years those people will make the biggest furniture purchases ever,” he observed.
Moreover, Mexico, and USA and Canada have a Free Trade Agreement still in place which would enable Pakistani products marketing northward.
Last year, U.S. investors of furniture industry and buyers had shown keen interest in Pakistan’s handmade traditional furniture.
They underlined the need of further enhancing collaboration with the Pakistan Furniture Council (PFC) to promote furniture business between the two countries.
“Only US furniture demand at the manufacturers’ level is forecast to reach $59 billion in 2021,” Kashif Ashfaq had said while talking to the US furniture producers at a ceremony held in honor of PFC delegation visiting US for enhancing the bilateral trade with their counterparts.
“Adding that opportunity was a huge one, but the sector needed a large number of skilled workers to meet the rising demand,” he added.
Pakistani furniture are also being exported to Central Asian states.