Monday, July 22, 2024

In trade with Africa, Pakistan crossed over $4 Billion: Razak Dawood

In fiscal year 2019-20, trade of Pakistan with African nations touched $4.18 billion, Prime Minister of Commerce and Investment Adviser, Abdul Razak Dawood stated while speaking to the media.

Compared to the previous year, this reflects a rise of seven percent and more than 30 percent compared to the 2016-17 fiscal year, when the overall Pak-Afghan trade was $3.19 billion. The consultant said that this rise was due to Pakistan’s new involvement with African nations via the “Look Africa Campaign,” which has also led to a seven percent increase in Pakistan’s exports to Africa.

Dawood announced that Pakistan plans to increase exports of “pharmaceuticals, surgical instruments, light engineering, and electronic items, comprising tractors and agricultural equipment, 2 and 3-wheelers, commercial and domestic fans, and electrical machinery.” Dawood added that these products have enormous potential to engage with Africa’s untapped market.

The adviser said, “Pakistan will participate in the International Khartoum Fair next month, for the first time.” He also announced that the “Pakistan Africa Trade Development Conference” was arranged by the Ministry of Commerce, which will also be held in Nairobi next month.

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