ISLAMABAD: The Fourth Pakistan-Africa Trade Development Conference (PATDC) and Single Country Exhibition (SCE) concluded in Cairo on a high note, opening new vistas for all major sectors of Pakistan to capture this untapped potential market, boosting exports, and further cementing bilateral relations.
The preliminary data collected by Business Recorder revealed that around 1,200 business-to-business and government-to-government meetings were held during this event, where the Egyptian business community showed keen interest in 13 different Pakistani products and sectors and is likely to sign long-term agreements, especially in auto and agriculture sector in the coming days.
Caretaker Federal Minister for Commerce, Industries and Production Dr Gohar Ijaz led the delegation while Pakistan’s Ambassador to Egypt Sajid Bilal played a vital role in making the event a success. For the first time, Pakistan brought around 120 companies to Egypt with the aim of enhancing trade and economic cooperation and opening new horizons between Egypt and Pakistan. The exhibition showcased opportunities for trade enhancement and signing joint venture deals between local and Pakistani businessmen in multiple sectors of mutual interest.
“Productive visit to Egypt completed, which opened new avenues for our business community with Egypt and Africa,” said Dr Ejaz while talking to Business Recorder. After China and GCC, the “Look Africa Mission” was a huge achievement as a significant response was received by Pakistani companies which are expected to be converted into long-term agreements and boost bilateral trade as well as Pakistani exports. He further said that the government is now focusing on non-textile and agriculture. Pakistan has already successfully increased exports from $2.068 billion in July, including $1.4 billion in textile and $700 million in non-textile to $2.812 billion.
He vowed to increase bilateral trade with Egypt 10 times. He stressed that if Pakistan, Egypt, and MENA region countries can combine their strengths in different sectors of the economy, it would yield a win-win situation for all. Pakistan and Egypt being brotherly countries need to support each other. He invited Egyptian investors to visit Pakistan. He asked the Egyptian and MENA business community to send a resounding message to the world together while saying that they can work together and become an economic powerhouse ultimately giving their people the prosperity they deserve.
Ambassador Sajid Bilal told Business Recorder that the government of Pakistan under the “Look Africa” Policy has successfully conducted similar events in Johannesburg, Lagos, and Nairobi yielding greater commercial benefits.
Under this policy, the government of Pakistan aims to find alternate markets for its goods and enhance government-to-government and business-to-business ties with countries in the African region. We are reaching out to MENA region to forge stronger ties with peoples, institutions and authorities, he added. Egypt is the gateway to Africa; our brotherly relations will grow stronger with development of bilateral trade, he added.
The ambassador highlighted that this event coincides with the celebration of the 75th anniversary of the establishment of diplomatic relations between Pakistan and Egypt.
According to the preliminary data, AL Kamil, a company based in Alexandria, Egypt has invited Herbal Lagoons to visit their factory and plan some future joint ventures. AL Kamil is involved in value-added products manufacturing related to horticulture and herbs.
Nile Garden, a company based in Cairo has shown keen interest in importing corn germs from Pakistan and has requested HLs to provide further details on this project. In this regard, HL will hold online meetings too. They required four tons of corn germ on an initial basis. Omran Trading Company is interested in trail shipment from Herbal Lagoons for value-added products such as dried onions, tomatoes etc.
EL Tawargy, a company based in Cairo showed interest in Pomace olive oil. They will remain in touch with Burg Olive for further collaboration. Ethmar Green, based in Giza, is interested in visiting Pakistan to see the olive farm of Burg Olive Farm and find potential future collaboration.
A company based in Cairo is interested in working with Islamabad Agri for a joint venture for grapes processing. Pakistan’s auto sector received big indications and is likely to sign long-term agreements with Egyptian companies in the near future.
El-NASR Automotive Manufacturing Company (NASR) of Egypt has a keen interest in this regard and started engagement with Haval of Sazgar Motors, Pakistan.
Copyright Business Recorder, 2024
Comments
Comments are closed.