Traders all set to attend 1st Africa-Pakistan Trade Development Conference

A trade delegation from Domestic Engineering Industry is all set to participate in the "1st Africa- Pakistan Trade Development Conference scheduled from January 30 to 31 in Nairobi (Kenya).

The delegation would be led by Advisor to the Prime Minister on Industries & Production, Commerce, Textile and Investment, Abdul Razak Dawood, said an EDB press statement, adding the conference was being organized under "Engage Africa" initiative of Pakistan.

Almas Hyder, would represent Engineering Development

Board (EDB) in the conference, it added. The objective of trade delegation's visit is to explore trade enhancement opportunities in the African region which is one of the potential markets for Pakistan's exports, being the 2nd largest continent in the world, spreading over 20% of the world landmass and a collective GDP of over 2.3 trillion.

It offers an import market of around US$ 500 billion, the statement said adding that in 2018, trade between Pakistan and Africa stood at $3.6 billion which could be doubled with serious efforts.

There is a huge untapped export potential for Pakistani domestic engineering industry to cater to the needs of African market.

The government has been pursuing an export led growth strategy for economic stability which could be achieved with focus on the export of value added products pro- actively towards perspective customers and target markets.

The statement added that EDB had been playing a vital role to strengthen the local Engineering sector and integrate it with the world market to make it the driving force for economic growth.

It is anticipated that engineering sector would become the largest exporting sector from Pakistan and goal is to substantially increase exports from the current level of $1.3 billion.