KARACHI – The trade bodies of Pakistan should make all-out efforts to explore the potential market of Africa, this was suggested by SM Munir Chief Petron United Business Group(UBG) while commenting on Pakistan’s multilateral trade with Africa region which has been stagnant at approximately US $ four billion per year for the last few years. UBG further suggested that the government strategy for promotion of Pakistan Export under “Look Africa Campaign” needs to be augmented by trade bodies so that Pakistan can utilize its full potential.
Pakistan exports to Africa is US $ 1.48 billion in 2019-20 while the volume of exports to Africa by China and India stand at around US$ 90 billion and US$ 30 billion respectively and the main reason behind their huge export is their continuous presence and aggressive marketing in the African region.
The goods pharmaceutical products, cereals, textile, machinery and leather goods are the main exports of China and India to Africa while Pakistan has also a competitive advantage in these commodities and by exploring the African markets Pakistan can maximize the benefits of exports and minimize the risk of exports uncertainty. At present, Pakistan is mainly exporting cereals, cotton, textile products, sugar and paper products to Africa and importing tea, coffee, crude oil, iron, steel, inorganic chemicals and cotton from the African region.
UBG said that the entire Africa is a potential market for Pakistani rice, pharmaceuticals, surgical goods and light engineering and electronic products including tractors and agricultural implements, two and three wheelers, commercial and domestic fans, water pumps and electrical machinery and equipment etc.
Africa is rich in natural and mineral resources and is called the world’s storehouse of strategic raw materials, UBG said. Lack of information, mutual understandings, business interactions, connectivity and people to people contact between Pakistan and African countries are the ground of the low economic relations.
UBG further added that the main reason of the low trade volume was the low level of engagement of Pakistan with Africa. The Trade bodies of Pakistan should develop their networking with their African counterparts through Pakistan trade missions in African countries.
The trade bodies of Pakistan should look into the possibility of organizing Pakistan’s single country exhibitions and visit of trade delegations to Algeria, Egypt, Ethiopia, Senegal, Sudan, Tanzania Kenya, Morocco, Nigeria and South Africa, which are hidden potential markets for Pakistan.
