More than 70 foreign buying groups set to shop High Point

Market also expects 300 first-time visitors

Furniture Today Staff -- Furniture Today, October 15, 2008

HIGH POINT - More than 70 international buying organizations representing 41 countries and some 300 buyers who have never before visited the High Point Market are set to visit the event next week.

Among the newcomers will be a delegation from Jordan, with 20 delegates representing 14 companies. The Jordanian delegation is a result of the High Point Market's International Buyer Program designation, and ongoing global marketing assistance by the U.S. Department of Commerce, market officials said.

Brian Casey, president and CEO of the High Point Market Authority, said the International Buyer Program is designed to connect U.S. companies with foreign customers and to raise worldwide awareness of IBP-designated events.

"It further demonstrates the global reach of High Point because we are the only market able to offer the product introductions in every category at every price point and the only market which offers services catering to the specific needs of foreign market participants," Casey said. "Once again, a major international buying delegation is bound for High Point, along with hundreds of other first-time and regular international visitors who have chosen High Point as their market."

He added that officials are "particularly excited" about Jordan's participation.

"While the domestic housing market continues to be depressed, real estate investments in Jordan are expected to reach $50 billion in the next few years, in a market that has seen just $2 billion in investment over the last 20 years. This investment has created a boom in construction that will continue to create a need for furniture for the ongoing large-scale, residential, tourist, and commercial developments.

"Additionally, there have been announced project investments of more than $10 billion, including the flourishing tourism of two hot spots in Jordan: Aqaba and Dead Sea. The boom in the Aqaba Special Economic Zone has also contributed to consistent development of the port area, and the capital, Amman, accounts for the majority of the ongoing construction projects. Once completed, such projects will result in significant demand for all types of furnishings and we know that exhibitors here will welcome these opportunities.

"In general terms," Casey added, "the Jordanian market is very positive toward United States imports. In 2006, Jordan's total furniture imports were nearly $97 million, with total imports at nearly half that number. The U.S.-Jordan Free Trade Agreement will also eventually eliminate duties and barriers to bilateral trade in goods and services originating in the United States and Jordan. Simply put, the timing of this delegation's arrival couldn't be more auspicious, and only the High Point Market offers the vast selection of high-end products suitable for the Jordanian market's needs."