First Africa Diplomatic Economic Conference today

Business Recorder reported that the inaugural Africa Diplomatic Economic Conference is scheduled for Tuesday in Karachi, aiming to widen commercial ties between Pakistan and African states while boosting shipments abroad. Envoys from 16 African nations, government officials and delegates from trade bodies are slated to take part. Organisers see scope for the USD2 billion in bilateral trade to climb to USD10 billion.

Dewan Muhammad Yousuf Farooqui, Patron-in-Chief of the Pakistan SADAC Chamber Trade Federation, told a Karachi press conference on Monday that African countries are emerging markets for Pakistan. Given the global situation, he stressed, Pakistan must look for new export destinations, and a joint trade strategy is essential to reach the USD10 billion target. PSCTF Chairman Muhammad Rafiq Memon said the agenda covers cutting duties, settling customs matters and making it easier for Pakistani goods to enter African markets. Memon added that Pakistan has strong potential to ship cement, textiles, rice and medical devices abroad.

Syed Moezuddin, President of the Pakistan Chapter, voiced hope that the gathering would create fresh channels for cooperation with African nations. He hopes the event will also lift Pakistani exports and deepen economic relations between the two sides.