Cairo, Egypt – Pakistan has proposed signing a Preferential Trade Agreement (PTA) with Egypt to boost bilateral trade from $400 million to $4 billion.
The time has come, according to caretaker federal minister for commerce and industries Dr. Gohar Ejaz, for both countries to enhance trade and ink free trade agreements (FTAs), which Pakistan has done previously with several nations.
“Our aim is to contribute to broader goals of economic growth and cooperation by facilitating investment and opening markets,” he stated.
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As part of the minister-led delegation’s Look Africa Mission to boost exports from Pakistan, the country showcased its top 100 companies across 12 sectors for export to Mena nations in Cairo, Egypt.
Per the minister, Pakistan is endowed with abundant resources including mineral deposits, fertile land and scenic diversity. It has a large consumer market, with a GDP of USD 374 billion and a population of around 241 million.
Due to its strategic location at the crossroads of South Asia, Central Asia and West Asia, and proximity to Gulf states, Pakistan offers potential as a regional hub and sizeable market for trade and investment.
Dr. Ejaz added, “Leveraging its large workforce and resource base, Pakistan produces a wide variety of agricultural goods and manufactures diverse industrial products.” Pakistan’s exports reached around USD 30 billion in fiscal year 2022–2023, with textiles being the top product. However, non-traditional sectors like engineering goods and pharmaceuticals also performed exceptionally well.
At the Egypt International Exhibition Center in New Cairo, over 110 Pakistani companies aiming to export to Egypt and MENA showcased their products.
The top exporting companies of Pakistan displayed their goods and innovations while seeking to build new partnerships and business connections with firms that can represent their products in Egypt and the Middle East and North Africa region.
In talks with Ahmed Samir, Egypt’s Minister of Commerce and Chief Guest of the 4th Pakistan-Africa Trade Development Conference (PATDC) & Single Country Exhibition (SCE), Dr. Ejaz discussed promoting cooperation in key areas including services, engineering, textiles and agriculture.
Both sides recognized growing trade and economic ties between Egypt and Pakistan can be mutually beneficial. The event, bringing together business and policy leaders from many countries, encouraged the confluence of diverse viewpoints and ideas, fostering an stimulating environment conducive to substantive dialogue.
This forum provides a critical platform to boost commercial relations and explore business potential between Pakistan and Egypt. The conversations highlighted both countries’ commitment to strengthening economic linkages and leveraging each other’s advantages in strategic sectors.
Dr. Gohar Ejaz reiterated Pakistan’s resolve to open up its markets to the Middle East and North Africa (MENA) region by fostering economic engagement with MENA economies. Potential areas of cooperation include agriculture, textiles, engineering and services.
This pledge reflects Pakistan’s aim of realizing its economic and trade potential, fitting perfectly with the Look Africa agenda. The focus is on opening markets and promoting investments to support broader goals of cooperation and economic advancement.
In addition to enabling bilateral discussions, the 4th PATDC & SCE serves as a catalyst for sharing ideas and strategies to bolster economic ties. The occasion lays the groundwork for future cooperation, opening the door to greater prosperity and partnership for all.
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