ISLAMABAD: Pakistan can boost exports to Africa to offset the fall in exports to the conventional markets which has created problems, a diplomat said Saturday.
Africa having over $3 trillion GDP can become a treasure for Pakistan which must be explored by the business community to boost trade relations, said Omar Shahid Butt, Vice Consul Ghana.
The Look Africa Policy envisions greater bilateral trade for which the government as well as the business community should strive, he added.
Omar Shahid Butt said that Pakistan total trade with 54 African nations is just a few billion dollars while there is a great potential to boost trade with Nigeria,Kenya, South Africa, Morocco, Algeria, Egypt, Sudan, Tanzania, Ethiopia, and Ghana.
All these countries constitute over 80 percent of the total African gross domestic product (GDP) while the options of trade agreements with African trading blocks are open, he added.
The diplomat said that fifty-four African nations have agreed on the pan-continental free trade zone which could unite 1.3 billion people, create a $3.4 trillion economic bloc and boost trade within the continent which should not be ignored by policymakers.
Now, Pakistan should not delay establishment of more joint working groups on trade to engage African countries for regular interaction to exploit opportunities.
The number of joint ministerial commissions (JMCs) should also be increased and the meetings of existing JMCs should be held frequently, he demanded.
The number of embassies and high commissions should be increased while all the missions should have commercial sections to help boost trade, he said.
Mr. Butt informed that the sectors of pharmaceuticals, surgical instruments, electrical appliances, rice, wheat, corn, textiles, cement, and construction materials and different services have a better export potential for which participation of Pakistani companies in expos with the cooperation of TDAP is imperative.
