Chamber seeks economic pact with Africa

'Producing with Africa, not just selling to Africa,' says chamber president

ISLAMABAD:

President Islamabad Chamber of Commerce and Industry (ICCI) Sardar Tahir Mehmood has called for a fundamental shift in Pakistan-Africa relations from traditional diplomatic engagement towards a comprehensive economic partnership focused on trade, investment, joint ventures, technology transfer and job creation.

Addressing the Pakistan-Africa Economic Council (PAEC) Conclave as guest of honour, he said Africa, with its 54 nations, vast consumer markets, abundant natural resources and young population, was no longer a market of the future but a market of the present, said a release issued here on Saturday.

He said Pakistan had a competitive edge in pharmaceuticals, textiles, surgical and sports goods, rice, engineering goods, IT and healthcare.

However, he stressed that Pakistan's ambition should go beyond selling products in African markets. "The real opportunity lies not merely in selling to Africa, but in producing with Africa," he said, emphasising the need to promote joint ventures, co-production, investment partnerships and technology collaboration.

Such an approach, he added, could create enduring commercial relationships, strengthen value chains and generate employment in both Pakistan and African countries.

He stressed that business councils and chambers of commerce could play a pivotal role in converting diplomatic goodwill into measurable economic outcomes. "Governments can open doors, diplomats can create connections, but business communities must walk through those doors and turn relationships into contracts, investments and jobs," he remarked.