LAHORE, April 25 (INP ): A high level delegation of Pakistan Furniture Council (PFC) will visit this week to Sri Lanka to explore new avenues for cooperation in infrastructure development, policy and institution development, superior technological capabilities, modernizing work force in knowledge ,skills and attitudes, and marketing and investment opportunities in furniture sector. PFC Chief Executive Mian Kashif Ashfaq told this in a meeting of board of directors here on Wednesday. He apprised the board of directors about the possibilities of usurping the potential of furniture trade with Sri Lanka to expand Pakistani handmade world class furniture export which will be helpful for boosting of the economy besides this will generate new jobs in Pakistan. [timed-content-server show="04/26/2018 03:00 Asia/Karachi"]He further said Pakistan can easily double exports to Sri Lanka in a year’s time by effectively using the duty concessions under the Free Trade Agreement (FTA) and if the steps would be taken timely in right direction, he expected Pakistan’s exports to Sri Lanka to be $500 million from the current $267 million within a year. He said the trade balance is heavily in favour of Pakistan. “Its exports to Sri Lanka amounted to $267 million while Sri Lankan exports to Pakistan were worth just $58 million,” he added. “Sri Lanka mainly exports textile products like men’s T-shirts while it imports bed wear, trousers, silk and synthetic textile and other ready-made garments. “Pakistan’s exports are slowly growing and it can further increase its share.” Mian Kashif said Pakistan needed to move from traditional cotton cloth to value-added furniture products to increase its exports. Mian Kashif said furniture trade with Sri Lanka is at its lowest level and there is a dire need to explore furniture markets in this part of the region. He said “we should focus on intra-regional trade so that this South Asia can foster to meet the modern challenges.” He said Sri Lankan furniture producers are targeting Middle East and European markets but Pakistani furniture industry is also equally enjoying a superb potential to compete. He quoted the example of Japan that has a great scope for Pakistani furniture because they like Pakistani traditional hand-carved furniture designs with classic finishing and similar designs can be replicated in South Asian especially in Sri Lankan markets. Therefore, efforts must be made to promote furniture exports by more regular participation in international shows. All this can happen if there is government’s strong will for it and a vision among furniture traders. PFC Chief said PFC is focusing on marketing activities in key foreign markets mainly United States, Japan, European Union, the Gulf region and South Asia. He said Sri Lanka can provide huge opportunities to Pakistani exporters to market their products including handmade furniture in European markets in collaboration with Lankan companies.[/timed-content-server]   INP/AJ