Pakistan eyes on CARs, African markets to boost exports

ISLAMABAD: In order to boost exports from the country, Pakistan is exploring new markets in resource-rich regions of the Central Asia and Africa.

"We are working to enhance our economic ties with these potential markets of Pakistan products, which would help boost country's trade," Director Trade Development Authority of Pakistan (TDAP), Khalid Rasool told APP here.

Exploring the regional market was the top priority of the government, he said adding efforts were on to promote trade and economic relations with Africa, Central Asian economies and Afghanistan.

For this purpose, TDAP intended to organize Pakistan Afghanistan and Central Asian Republics (CARs) Conference from November 7 to 9 in Islamabad, he added.

Pakistan had potential to enhance the country's exports in pharmaceutical, poultry, surgical instruments, including variety of textiles items such as synthetic textile products, raw cotton, cotton yarn, leather and sports goods, electronics, sea food, furniture, cement, apparel, marble and agro-based industry like rice, beef, sugar, poultry chicken, potatoes, fruits and vegetables, he said.

He said the trade ministers and business community and Chambers of Commerce and Industry from both Afghanistan and Central Asian Republics would be invited to attend the conference.

Senior official of Ministry of Commerce informed that the main objective of this conference was to enhance bilateral trade volume, strengthen trade and economic ties and regional trade integration of these economies.

"We want to touch the untapped market of Central Asia with a total population of over 66.5 million spread over an area of about four million square kilometers, and located on the historical Silk Route," he said.

Pakistan was looking for easy access of neighboring partners to bigger markets of the region, technology sharing focusing on collective regional prosperity, he added.

Khalid Rasool said that Central Asian States presented a consolidated market of 289 million consumers, with GDP of $593.56 billion, which offered a huge reservoir of untapped economies.

He said Pakistan-Central Asian Republics relations were based on geographical proximity, common history, religion, culture, traditions, values and destiny.

Pakistan and these states could work together in areas of trade, economic stability and development of the region, the Director TDAP said.

Replying to a question, he said that TDAP was also looking to organize "Look Africa" Business Forum by November 10, in Karachi.

He added that Pakistan had potential to increase its exports in textile, pharmaceutical, cement, leather, chemical, low tech, marbles and gems and jewelery in African countries.