Pakistan to hit billion dollars African Export Market
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ISLAMABAD - Honorary Consul General of Rwanda Farooq A Khawaja Friday said Africa is billions dollars export market for Pakistan, which has been neglected so far. He said this while addressing business community at Islamabad Chamber of Commerce and Industry (ICCI). He stressed that Pakistani exporters should accelerate efforts to tap this huge market of 1.25 billion people to enhance exports. He said all Pakistani exportable products including pharmaceuticals, textiles, rice, sports goods and others have good demand in Africa. He said the current century is the century of Africa and many big economies of the world including USA, China, India, France and Turkey are enhancing their presence in Africa, but Pakistan is missing from the scene. He said Pakistan is focusing on EU, Middle East and North America for trade and exports while Africa is the most lucrative market for it and Pakistan should give more focus to this big market. Farooq A Khawaja said China has 50 missions in Africa, India 48, but Pakistan has only 14 missions, which shows that Pakistan is not paying due attention to this region. He said China has invested $197 billion in Africa while India is the 5th largest investor in Africa, but Pakistan has ignored this region for trade and investment. He said with better efforts, Pakistan could increase $4-5 billion exports to Africa within years. Highlighting the potential of Rwanda, he said it has brought drastic economic reforms and is on number two in Africa on ease of doing business. He said that 44 African countries had signed a free trade agreement last year paving way for a liberalized market for goods and services. Thus by exporting to Rwanda, Pakistan could get easy market access to African continental. He said ICCI should form a delegation for Rwanda to study the African market and assured of his cooperation to facilitate its visit. Speaking at the occasion, ICCI President Ahmed Hassan Moughal said as a first step, Pakistan and Rwanda should arrange direct flights that would facilitate in promoting trade relations. He said Pakistan’s share in total trade of African countries is 0.3 percent, which is quite negligible and stressed that government should cooperate with private sector in exploring African market. He said the government’s support in organizing single country exhibitions in Rwanda and other African countries would help in introducing Pakistani products to this huge untapped market. ICCI Senior Vice President Rafat Farid and Vice President Iftikhar Anwar Sethi said the government has formed a Look Africa policy, but so far no tangible progress has been made to penetrate the African market. They said Trade Development Authority of Pakistan should organize frequent trade delegations to Africa so that private sector can capture better market share in African region.
