Islamabad, September 23, 2013 (PPI-OT): Mr. Zaighamuddin Azam High Commissioner of Pakistan inaugurated the establishment of Pakistan Africa Trade Centre in Johannesburg, South Africa. According to a press release received from the Pakistan Mission, the Trade centre is being established in Public-private partnership in collaboration of M/s Terry world and M/s Crown. Government of Pakistan will be represented by Trade Development Authority of Pakistan (TDAP) through Trade Commission of Pakistan, Johannesburg, South Africa.
The Pakistan Africa Trade Centre will open new avenues of trade between the both countries. This will give an impetus to the Pakistani exports in the African Continent as South Africa is a gate way to the Continent.
South Africa buyers prefer face to face dealing with the foreign suppliers and it will be an amazing opportunity to Pakistani entrepreneurs and exporters to show case their products under one roof. It has been planed that over 200 products will be at display for twenty four hours.
South Africa with its GDP of US $ 410 Billion is the biggest and one of the fastest growing economies of the African continent. It is the largest trading partner of Pakistan in the African Continent. South Africa is seen as the first great step into this mighty continent and it is the best place to base operations.
Already China and India have taken huge steps in this direction and therefore their respective bilateral trade has increased manifold during the last few years. On the other hand South African bilateral trade with Pakistan is currently hovering around US $ 640 Million which has increased substantially but still a lot can be achieved.
While addressing the inauguration ceremony, High Commissioner said that in South Africa local buying houses and chain stores prefer to do business with the local trading houses and brokers and avoid importing directly.
This situation provides leverage to the middle men and subsequently the profits of Pakistani exporters are limited. He mentioned that business communities from China and India has made best use of these environments by opening up ware houses and multiple trade offices in South Africa.
He also indicated that after holding numerous meetings with various officials of Chamber of Commerce and Industry, local businessmen and visiting Pakistani delegation, he was of the considered opinion that Pakistani goods should be made available locally in the market to enhance trade with South Africa.
Accordingly, a proposal to open up a warehouse of Pakistani goods (Pakistan-Africa Trade Centre) in the city of Johannesburg was sent to Trade Development Authority of Pakistan (TDAP) in January 2011.
TDAP, in light of its “Strategic Trade Policy Framework 2012-15” agreed to provide subsidy on the rental cost of retail warehouse for a period of three years. On their assurance, Mission convinced a local businessman of Pakistan origin, Mr. Mehmood Rangoonwala, CEO of M/s Terry World to invest into the project.
This project with public private partnership will provide a base from where Pakistani export items will be displayed in South Africa. “Pakistan-Africa Trade Centre” will play a major role in achieving the trade target of US $ 2 Billion with South Africa by 2016. This “Pakistan-Africa Trade Centre” will be a two storey building which will initially have 140 shops, with a possibility to add another 70 shops.
The ceremony was attended by a large number of local business, importers and exporters of the Pakistani products, investors, leading figures of the South Africa and Pakistani Origin.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326