Pakistan’s trade with African countries has reached $4.18 billion in the fiscal year 2019-20, Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, said while speaking to the media.
This is an increase of seven percent compared to the previous year and more than 30 percent compared to the fiscal year 2016-17 when the total Pak-Afghan trade was at $3.19 billion. The adviser said that this increase has come due to Pakistan’s new engagement with African countries through the “Look Africa Campaign,” which has also led to Pakistan’s exports to Africa increased by seven percent.
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Dawood informed that Pakistan is planning to enhance exports of “Pharmaceuticals, surgical goods, light engineering, and electronic products, including tractors and agricultural implements, two and three-wheelers, commercial and domestic fans, and electrical machinery.” He added that these products have immense potential to connect with the untapped market in Africa.
The adviser said, “For the first time, Pakistan will participate in the International Khartoum Fair next month.” He also informed that the Ministry of Commerce organized the ‘Pakistan Africa Trade Development Conference,’ which will also be held next month in Nairobi.
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The biggest market in the future will be Africa with its huge and young population, we need to stop looking at EU as main market and shift our focus on Africa just like china did. EU as a market is becoming stagnant. while african market is vibrant.