The United Business Group (UBG) has advised all trade bodies across Pakistan to set-up African Desk at their premises to facilitate their members in exploring hidden potential of African Region. UBG revealed that the export of China and India stand to US $ 90 billion and 30 billion respectively to African region while Pakistan exports stand to hardly US $ 1.50 billion. The main reason of huge export of China and India is their continuous presence and aggressive marketing in African region.
The trade bodies of Pakistan should make all-out joint efforts to explore the potential market of Africa, UBG suggested while commenting on Pakistan’s multilateral trade with Africa region which is stagnant at approximately US $ 4 billion per year for last few years. UBG further suggested that government strategy for promotion of Pakistan Export under “Look Africa Campaign” needs to be augmented by trade bodies so that Pakistan can utilize its full potential.
Pharmaceutical products, cereals, textile, machinery and leather goods are the main exports of China and India to Africa while Pakistan has also a competitive advantage in these commodities and by exploring the African markets Pakistan can maximize the benefits of exports and minimize the risk of exports uncertainty. At present, Pakistan is mainly exporting cereals, cotton, textile products, sugar and paper products to Africa and importing tea, coffee, crude oil, iron, steel, inorganic chemicals and cotton from African region.
UBG further said that the entire Africa is potential market for Pakistani rice, pharmaceuticals, surgical goods and light engineering and electronic products including tractors and agricultural implements, two and three wheelers, commercial and domestic fans, water pumps and electrical machinery and equipment etc. Africa is rich in natural and mineral resources and is called world’s storehouse of strategic raw materials. Lack of information, mutual understandings, business interactions, connectivity and people to people contact between Pakistan and African countries are the ground of the low economic relations, UBG further commented. The Trade bodies of Pakistan should develop their networking with their African counterparts through Pakistan trade missions in African countries.
The trade bodies of Pakistan should look into the possibility of organizing Pakistan’s single country exhibitions and arrange visit of trade delegations to Algeria, Egypt, Ethiopia, Senegal, Sudan Tanzania, Kenya, Morocco, Nigeria and South Africa, which are hidden potential markets for Pakistan.