Pakistan Foriegn Office takes important initiative to tap $500 billion African market
ISLAMABAD - President Dr Arif Alvi will inaugurate the two-day Envoys Conference on Africa on Wednesday, being hosted by the Ministry of Foreign Affairs.
The Conference will bring together the Pakistani envoys posted in Africa with important stakeholders including senior leadership from relevant ministries and departments and representatives of the private sector.
A Foreign Office statement on Tuesday said Pakistan’s relations with African nations have always been characterized by cordiality, mutual trust and understanding.
“Consistent with the vision of the leadership, and priorities of the Government, the Conference aims at deepening Pakistan’s engagement with Africa in diverse fields,” the statement mentioned.
The Conference participants shall deliberate on ways and means to further strengthen existing relations with African countries and diversify and deepen political, economic,security and socio cultural ties.
The Conference will also provide leading manufacturers, exporters and IT organizations the opportunity to brief the Pakistani Envoys on potential goods and services which can be exported to African markets.
Africa is the second largest continent of the world with 20% of the world’s landmass and 54 sovereign states,with 1.2 billion people and the largest youth population on the globe.
With a collective GDP of over US $ 2.3 trillion and an import market of around $500 billion, most countries in Africa are witnessing stable growth. Due to its rich natural resources and growing middle-class consumer market, the World bank has predicted that most African countries will reach middle income status by 2025. This presents a tremendous opportunity for Pakistani goods and services.
As part of UN peace-keeping operations, Pakistan has made a significant contribution for peace, security and development on the Continent over the past several decades.
The Conference also envisages interaction with Resident Ambassadors of Africa in Pakistan.
The outcome of Conference will be presented to the Prime Minister in the closing session along with concrete recommendations crafted by the Envoys, proposing a way forward for robust engagement between Pakistan and Africa.