Opening of a Buying Office by El-Corte Ingles in Pakistan
Karachi: Trade Development Authority of Pakistan (TDAP) has been successful in attracting the El Corte Ingles Group, the leading super store of Europe and world’s 4th largest, based in Spain, to open a buying office in Pakistan. El Corte has an annual turnover of over US$ 25 billion and is trusted name in quality of products and services in European market.
It has more than 400 stores under the brand names of: El Corte Ingles; Hipercor; Supercor; Opencor etc. El Corte Ingles annual imports is more than US$ 12 billion and 80% of its imports are from Asia.
Opening of El Corte office in Pakistan is a result of an initiative taken by Pakistan’s Commercial Counsellor, Embassy of Pakistan and keen efforts of Pakistan’s Honorary Investment Counsellor in Spain. TDAP had sponsored and organized a 20-member El Corte delegation’s visit to Pakistan in February this year, for analyzing the potential of Pakistan as a reliable sourcing hub.
Mr. Borja de la Cierva, Director / Head of International Supply Chain led the delegation. They held B2B meetings with 272 different Pakistani companies in Lahore, Sialkot, Faisalabad and Karachi and visited 59 selective production facilities in these cities.
As a result of these extensive interactions, El Corte has inked an agreement with Feroz International, a Pakistani company, to operate its buying offices in Karachi and Lahore. The Pakistani Commercial Counsellor in Madrid played a pivotal role in materialization of this agreement, which could not have been possible without persistent follow up by TDAP. It’s a big achievement as currently El Corte operates its procurement wing of South Asia from India and soon they will start procuring from Pakistan and all future orders will be exclusively executed through Pakistan.
El Corte Ingles is interested in increasing its volume of buying and product range from Pakistan. The opening of the office in Pakistan is also the beginning of better opportunities for Pakistani exports to Spain. The office will also be responsible for introducing new sourcing partners and products from Pakistan. According to Director (Sourcing) of El Corte, export orders from Pakistan, since their maiden visit to Pakistan in February 2011 visit, have already exceeded Euro 10 million.
Mr. Tariq Puri, Chief Executive TDAP has expressed his confidence that these export orders are manifestation of TDAP’s aggressive marketing campaign and TDAP will continue to strive for creating business opportunities for Pakistani exporters to keep the increasing trend in exports going.
For more information, contact:
Trade Development Authority of Pakistan
5th Floor, Block A, Finance and Trade Centre, Shahrah-e-Faisal,
PABX: 92-21- 9206487-90