Karachi, August 10, 2016 (PPI-OT):Shaikh Khalid Tawab, Sr. Vice President FPCCI emphasized on the exploration of African market, which is the second largest continent of the world with 54 sovereign states and a collective GDP of US$2.3 trillion and imports market of US$ 513.5 billion. At present, Pakistan has not been able to realize its full potential despite being enjoying cordial relations with the African countries. Lack of confidence due to banking channels is one of the reason of this low trade.
He added that Pakistan has huge potential in the traditional exports to these countries like rice, sports goods, mangoes, surgical instruments, pharmaceutical products, leather, dairy products, fresh vegetable and fruits and textile items. The present volume of Pakistan’s export to Africa region is just US$ 1.66 billion which is unsatisfactory as compared to our regional country India who is exporting US$ 25.5billion.
He suggested that Pakistan needs to send fact-finding missions to Africa for exploring business opportunities. For this purpose, Pakistan can utilize embassies or trade missions in that region with the objectives of exploring long-term sustainable export market. He further directed to all embassies of Pakistan to open a display centre in their premises for showcasing exportable products of Pakistan.
He further elaborated that Africa is varied continent in term of living standard and productive economies which demanded different range of products in term of quality. He further stated that the African continent can also be a suitable place for branding the Pakistani products as this will help in sustainability of the market exports and at the same time there is less competition in this region and fewer requirements of Sanitary and Phyto-sanitary (SPS) measures and other technical certifications.
He also highlighted that a significant majority of the population is Muslim in Africa, which also represents the potential for Halal products. Due to the scarce supply of Halal products in the world, there is a great opportunity for Pakistan to capture this market as a supplier of Halal certified products to African countries.
He urged the government to provide trade facilities in term of banking facilities and other facilities for exploring this untapped market. He also pointed out that Kenya, Mauritius, Ghana, South Africa and Morocco are the gateway to African continent due to geographical advantage and Pakistan should be explored these markets.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94