Govt explores Djibouti route for Africa trade

LCCI, envoy discuss new markets on rising current account concerns

LAHORE:

Pakistan's Ambassador to the Republic of Djibouti, Aqsa Nawaz, visited the Lahore Chamber of Commerce and Industry (LCCI) and met with LCCI President Faheemur Rehman Saigol. According to a statement issued on Tuesday, the discussion focused on tapping new export markets in Africa through Djibouti and assessing trade potential for Pakistani products.

Speaking on the occasion, the LCCI president said Pakistan traditionally focuses on European and American markets, while Africa remains a large and fast-growing market that should not be ignored. He said Africa offers substantial potential, especially in agriculture, where Pakistan needs to work more seriously. He added that agricultural production in India remains higher, while Pakistan's cotton quality and output continue to decline, which requires urgent attention from policymakers.

Saigol said Pakistan's current account deficit has increased and that addressing this challenge demands joint efforts and the exploration of new export markets. He stressed the need to understand the potential of the Djibouti market to enhance Pakistani exports. He also noted that the global halal food and related products market has crossed $3 trillion, yet Pakistan's share remains low despite being a Muslim country. Ambassador Aqsa Nawaz said that during her posting in Africa, she had observed significant opportunities for trade and investment. She described Djibouti as an important, stable and peaceful country with a strategic port that serves as a gateway to Africa.