PHOTO: AFP
The recently held trade conference between Pakistan and Africa has given a new dimension to Pakistan's foreign trade and participants from various African countries in the conference, held in Nairobi, have expressed immense interest in enhancing trade and investment ties with Pakistan. Africa is the second largest emerging market after Asia. The total import volume of the African market is $576 billion and Pakistan has a share of less than 0.2%. Exports from Pakistan to Africa are around $1.4 billion.
India, contrary to Pakistan, has not only captured the African market through trade and investment but has also spread its cultural influence there. The current trade volume of India with Africa is around $50 billion and by the year 2020-21 it has planned to achieve the export target of $117 billion.
The All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) has started collecting market intelligence to enhance export of fruits and vegetables to the African countries. "By better understanding demand from this specific market and quarantine requirements, we can get an adequate share in the African market of around $3.7 billion," remarked PFVA Patron-in-Chief Waheed Ahmad. The Pakistan-Africa Trade Development Conference has played a vital role and provided a bright opportunity for boosting exports of fruits, vegetables and other products to the African market, he added.
He said currently they were collecting data and later the information would be utilised with the help of Pakistani foreign missions to strengthen trade ties and exchange trade delegations.
According to Ahmad, the export industries and previous governments did not make any sincere efforts for tapping the immense trade potential of the huge market and instead focused on the US, Europe and other traditional global markets, where the increasingly stiff competition was making it very difficult to retain their share.
He said a huge plus of the conference was that encouraging demand for Pakistani fruits, vegetables and value-added fruit products had emerged.
African countries import fruits and vegetables worth $3.7 billion annually. Currently, Pakistan is exporting fruits and vegetables worth $4 million to the African countries, which can be enhanced to $25 million. Similarly, overall exports of $1.4 billion to African countries by Pakistan can also be enhanced to $3 billion within a period of three years. To tap the promising trade potential of the African market, Waheed suggested people-to-people contact for which air links and banking channels were required to be further strengthened.
Published in The Express Tribune, February 4th, 2020.
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