Fazain Ali Ghori Director Finance Matco Foods informed that in a very short span Gulfood became number one food exhibition which covers big region and thousands of foods companies participate in Gulfood every year. Gulfood began in 1987 and has become the most important food trade show of the year. He said the location of Gulfood was convenient as all buyers and sellers gather together in one place over a course of five days and they can meet under one roof to discuss their business deals. "Previously, Pakistani exporters were required to travel extensively over multiple countries to finalize the business deals, however now it is a matter of minutes", he added.
Fazain informed that this year Pakistan's prominent food brands set up their stall in Gulfood Matco Foods was among one of them. "Matco Foods had a terrific and very successful trade show in Gulfood and received a number of inquiries, especially since after the company IPO, under which some Rs 757 million has been raised for extension of Rice Glucose and Protein Plant up to 30,000 metric tons and 1,000 metric tons respectively," he added.
He said that mainly public companies are more trusting of companies and it definitely gave Matco an edge over the competition. Gulfood is a great hub for new ideas and products in the global food industry and is a must attend event in their annual calendar. Fazain said events like this will help Matco to update with current trends. This year 4,237 food companies from all over the world participated in Gulfood. From Pakistan 89, India 307, Bangladesh 43, China 207, US 163, UK 91, Sri Lanka 54 and Iran 58 participated in Gulfood respectively, he mentioned.
This year some stalls of non-traditional food items and frozen foods such as Ambala Sweets, Qasr-e-Shireenwere also seen. TDAP may enhance the volume of export if the subsidy be given on the participation fees of Gulfood so that upto 200 food companies from Pakistan could participate in next Gulfood.