ISLAMABAD: Advisor to Prime Minister on Commerce and Investment, AbdulRazak Dawood on Saturday said that African region has immense potential fortrade and investment including engineering and pharmaceutical products.
He expressed these views while holding a consultative meeting with theofficials of the Trade Development Authority of Pakistan (TDAP) on thetrade promotion measures being taken under the Ministry of Commerce (MOC)’sLook Africa Policy initiative, launched in 2017.
He visited the headquarters of the Trade Development Authority of Pakistan(TDAP) head office, said a press release issued by Ministry of Commercehere.
He advised the TDAP to strive even harder to promote exports of Pakistan innew geographies like Africa so that the geographic basket of markets forPakistan should be diversified.
Razak Dawood was of the view that although the numbers are small but theproducts and direction are in a right direction.
He appreciated the role played by TDAP in export promotion and appreciatedthe fact that despite the logistical difficulties created by thecoronavirus pandemic, the TDAP has been able to successfully participate inthe Sudan Trade Fair.
Being the marketing arm of the Ministry of Commerce, he said the role ofTDAP in implementation of the Look Africa Policy initiative of the Ministryof Commerce was crucial.
The Advisor was also briefed on “Look Africa Policy” launched by theministry of commerce.
During the meeting, he was informed that TDAP participated in theInternational Trade Fair at Khartoum, Sudan from January 21- 28, 2021.
This participation has opened up new avenues for trade and economiccooperation between Pakistan and Sudan, he briefed.
He was informed that the event generated business of around $ 2 million asagriculture machinery, pharmaceutical, glass Industry and fruit industryreceived big orders.
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He was further informed that deals worth $ 3 million are under process andshall very soon be matured between the Pakistani exporters and Sudanesebuyers.
New exporters from PVC, Corona-related Personal Protection Equipment (PPEs)and beauty products also received very encouraging responses.
He was briefed that the TDAP arranged extensive Business to Business andnetworking sessions between Pakistani and Sudanese businessmen during theevent.
In addition, representatives of Pakistani companies visited local marketsand superstores for networking and business linkages.
TDAP and the Embassy of Pakistan facilitated local visits and meetings forthe Pakistani companies.
He informed that about half a dozen companies from Pakistan were able toselect new distributors and partners for registration of products and theirlocal distribution in the Sudanese market.
A business forum was also held on 25th January where the SudaneseBusinessmen and Employers’ Federation invited Pakistani companies to give adetailed briefing on export potential of Pakistan to the audience.
Salient features of the Look Africa Policy of the Ministry of commerce wereexplained and the forum was apprised that Pakistan has great potential tocater to import needs of Sudan and it is looking for economic and traderelations with all regions of Africa including Sudan, which shares a commonbond of faith and friendship with Pakistan.
He was informed that TDAP also arranged a networking dinner for Pakistanicompanies and leading Sudanese business houses and government officials.
