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LAHORE, Dec 16 (APP): Lahore Chamber of Commerce and Industry (LCCI) President Faheem Ur Rehman Saigol said that Pakistan traditionally focuses on European and American markets, but Africa is a large and fast-growing market that should not be ignored.
He was discussing trade and investment as well as export opportunities in Africa and Pakistan during the visit of Pakistan’s Ambassador to Republic of Djibouti, Aqsa Nawaz here at LCCI on Tuesday. LCCI Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, and Executive Committee members Shaban Akhtar, Ahsan Shahid, Firdous Nisar, Karamat Ali Awan, Aamir Ali, and Syed Salman Ali were also present.
Saigol said Africa offers huge trade potential, especially in the agriculture sector, where Pakistan needs to work seriously. He pointed out that agricultural production across the border in India is higher, while Pakistan’s cotton quality and output are declining, which needs urgent attention.
He said that Pakistan’s current account deficit has increased and overcoming this challenge requires joint efforts and the exploration of new export markets. He stressed the need to understand the potential of the Djibouti market to increase Pakistani exports. He also noted that the global halal food and related products market has crossed three trillion dollars, but Pakistan’s share remains low despite being a Muslim country.
Ambassador Aqsa Nawaz said that during her posting in Africa, she has seen great opportunities for trade and investment. She said Djibouti is an important, stable, and peaceful country, with a strategic port that serves as a gateway to Africa and is geographically close to Pakistan.
She added that Pakistani traders are already doing business in Africa, but there is still strong potential to increase exports. She emphasized the need to organise exhibitions and promote Pakistani products in African countries, as African economies are growing rapidly and Pakistani products match their market needs.
The Ambassador said that free trade zones have been established in Djibouti and warehousing facilities can be developed at ports, allowing supplies to be sent across Africa. She also stressed that Pakistan should focus on exporting its human resource to Africa and view the continent as an important export destination.
Ambassador Aqsa Nawaz assured that, as Pakistan’s Ambassador, she would provide full support to the business community. She said that single-country exhibitions are being planned in Africa, with full logistical support, visa facilitation, and opportunities to display Pakistani products. She also proposed forming business delegations to visit Djibouti, Tanzania, and other African countries, where B2B meetings would be arranged.