KARACHI: Honorary Consul General of Republic of Malawi Abdullah Zaki has advised the business community of Karachi to diversify their exports to Malawi by focusing on widely demanded non-traditional items which would help in improving the existing meager trade volume between the two countries and make trade balance favorable for Pakistan.
Exchanging views at a meeting during his visit to Karachi Chamber of Commerce & Industry (KCCI), Abdullah Zaki said that Malawian market has mostly been captured by Bangladesh and India who were providing all types of traditional and non-traditional items whereas Pakistan hardly exports fabrics, chemicals and pharmaceuticals etc., hence, there was a dire need to look into the possibility of exporting non-traditional items as well.
President KCCI Iftikhar Ahmed Sheikh, Vice President KCCI Tanveer Ahmed Barry, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Farooq Afzal, Former Presidents KCCI Iftikhar Ahmed Vohra, Muffasar Atta Malik, Shamim Ahmed Firpo, Agha Shahab Ahmed Khan and Muhammad Idrees, KCCI Managing Committee Members along with a large number of prominent members of business community were also present at the meeting.
He said that although balance of trade was currently in favor of Malawi and the overall trade volume remains limited to just US$8.9 million but the existing trade volume could substantially be improved through collective efforts and more interaction between the business communities of the two countries.
He noted that Malawi, being an import-based economy and with a population of 25 million, offers a lot of opportunities as there was a huge demand for Pakistani products. “We must focus on exporting non-traditional items as being done by Bangladesh and India. Malawi requires all types of items which can easily be provided by the Karachi’s business community.”
Abdullah Zaki further assured that the Honorary Consulate General’s Office of Malawi in Karachi was ready to extend full support and cooperation to those businessmen and traders who were looking forward to penetrate into the Malawian market and other African countries via Malawi where the law-and-order situation was pretty much stable.
He also informed that a Malawian delegation was due to arrive in Pakistan in January next year whereas Karachi Chamber can also send its trade delegation to Malawi in the month of April next year which will be fully facilitated by the Honorary Consulate of Malawi.
President KCCI Iftikhar Ahmed Sheikh, while warmly welcoming and congratulating Abdullah Zaki on his appointment as Honorary Consul General of Malawi, stated that it was indeed a matter of pride for Karachi Chamber that one of its former President has been appointed as Honorary Consul General of Malawi in Karachi which would certainly help in improving the existing trade volume between the two countries.
“Keeping in view Abdullah Zaki excellent business experience and close liaison with business community, Pakistan-Malawi trade volume is likely to improve in the years to come.”
He noted that trade ties of Pakistan with several African countries have been gradually improving but as far as Malawi was concerned, the trade volume remains very low and it was in favor of Malawi which requires special attention and extraordinary efforts so that it could be ‘balanced’.
He advised the Malawian Envoy to identify potential products which can be exported to and imported from Malawi by the business community of Karachi which would definitely help in improving the existing bilateral trade which remains drastically low.
Huge potential exists for improving bilateral trade and investment in numerous sectors including textiles, apparel, mining, tourism, hospitality, construction and agriculture etc. “Malawi is a big producer of tea in the African region whereas coffee, sugar and cotton etc. were also being produced, hence, there is a possibility that these products can be supplied to Pakistan by Malawian business community”, he said, adding that as Pakistan’s IT sector has witnessed impressive growth during the last few years, the IT services and expertise available here can also be provided to Malawi.
Underscoring the need to make collective efforts for improving trade and creating a strong liaison between KCCI and Malawian Honorary Consulate in Karachi, Iftikhar Sheikh was fairly optimistic that trade between Pakistan and Malawi would substantially improve in the days to come thanks to the appointment of Abdullah Zaki as honorary Consul General.
He also advised Malawian CG to arrange visit of a trade delegation comprising of exporters and importers from KCCI which would certainly help in improving trade by bringing business communities closer to each other.
Copyright Business Recorder, 2024
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