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LAHORE, Nov 05 (APP):Egyptian Ambassador Dr Ihab Abdelhamid has said that Pakistan and Egypt share longstanding and deeply rooted relations — religiously, culturally, and economically — and expressed a strong desire to enhance cooperation in trade and investment.
Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday, the Ambassador said that Lahore is Pakistan’s economic and cultural hub and assured continued collaboration with its business community. He noted that bilateral trade currently stands at around USD 300 million, which must be increased through partnerships in textiles, cotton, engineering products, processed foods, value-added goods, and the construction sector.
Dr. Abdelhamid highlighted that the Suez Canal Economic Zone offers excellent opportunities for Pakistani investors in manufacturing, logistics, textiles, halal food, and other industries. He added that Egypt’s fast-growing IT sector also provides strong prospects for cooperation with Pakistan. The envoy assured that the Egyptian Embassy in Islamabad will extend full support to Pakistani entrepreneurs at all levels.
LCCI President Faheem-ur-Rehman Saigol, Senior Vice President Tanveer Ahmed Sheikh, and Vice President Khurram Lodhi were present on the occasion, along with several Executive Committee members.
LCCI President Saigol said that under Pakistan’s “Look Africa” policy, Egypt holds a key position as a strategic trade partner. He emphasized that the current USD 232 million trade volume is far below potential and called for efforts to raise it to USD 2 billion. He also invited Egyptian investors to explore opportunities in Pakistan’s tourism, hospitality, and recreation sectors, assuring the Chamber’s full support in facilitating such ventures.