Speech of Syed Yousuf Raza Gilani on the occasion of Award
Distribution Ceremony of "Brands of the Year Award" 2010
held on 30th July, 2011 at Governor's House Karachi
SYED YOUSUF RAZA GILANI
Former Prime Minister
It is indeed a moment of great pleasure for me to note that Brands Foundation is celebrating another aspiring year for successful organization of the 4th edition of the gigantic activity of Brands of the Year Award 2010. This is noted as the most result oriented activity for promoting brand equity development and branding excellence for real economic drivers of Pakistan. This activity is now certainly becoming the biggest national stage that exhibits the most acclaimed brands of Pakistan every year and also is a place where the most popular and trusted brands are thoroughly evaluated to determine their market standing and consumer preference.
Such great achievements of this objective public private partnership of Brands Foundation and IPO Pakistan are the result of a strong will to take objective measures for economic development of Pakistan. I am pleased to know that Brands Foundation and IPO Pakistan have decided to take some innovative and revolutionary steps towards development of Pakistani Brands. Significance of brands can easily be understood by the fact that economy of the world today is driven by fortune brands that holds 40% share of the total GDP of the world i.e. US$ 60 trillion. It will be worthwhile to know that 65% of the world's total economy lies with brand owners; while annual turnover of some of these fortune brands is far bigger than a developed country's annual budget. Many developed and under developed countries do realize the fact that today's economy is of brand empowerment.
In this information age the world is changing at a much faster pace. Because of this Countries all over the world are shaping and re-shaping their national identities and priorities as they compete with neighbors and regional blocks for power, influence prestige and wealth. On the other side in business whatever is likely to happen, the world economy will almost certainly double in size in the next 20 years - as the people of China, and middle class consumers of Asia become consumers for the first time. That's twice as much business as of today; and twice as many opportunities. It is the era of informed consumers and only those who are ready for a cut throat competition will survive to reap the benefits of such great opportunities.
I attach great importance to this public private partnership in the wake of this great time preparing our business for the challenges of tomorrow and applaud the efforts of this remarkable partnership of IPO and Brands Foundation in materializing the future oriented objectives related with Pakistani brands, Pakistani business and economics-- and the Brand of Pakistan. I would like to re-iterate that through partnerships we can make our country more respectable and can work together to create a truly developed Pakistan for all.