Pakistan could join G20 economies within next decade: Qaiser

KARACHI: Pakistan must strengthen trade and investment ties with South Africa and other African countries to expand export markets and accelerate economic growth.

Such emphasis was made by Federal Minister for the Board of Investment Qaiser Ahmed Sheikh, while addressing First Africa Diplomatic and Economic Conference 2026, held here under the umbrella of Pakistan SADC Chamber Trade Federation (PSCTF).

He expressed confidence that Pakistan could join the Group of 20 (G20) economies within the next decade.

Qaiser Sheikh said Pakistan and South Africa could serve as gateways to major regional markets, creating opportunities for exporters and investors across Africa, Central Asia and West Asia.

He said Pakistan’s strategic location offered access to Central and West Asian economies, while South Africa could provide Pakistani businesses a route to wider African markets.

He urged the private sector to capitalise on these opportunities and identified automotive parts as a promising sector for Pakistani exports to South Africa.

The Minister said the government was facilitating foreign investment through the Special Investment Facilitation Council (SIFC).

He also called on overseas Pakistanis, particularly those with established businesses in South Africa, to invest in Pakistan and strengthen commercial links with African countries.

Drawing on his experience as a businessman, Sheikh emphasised that private-sector growth and foreign investment were essential to economic development.

The conference brought together African diplomats, government officials and business leaders to explore opportunities for trade and investment.

Its theme was “Strengthening Diplomatic, Trade and Investment Relations for Shared Prosperity,” with particular emphasis on the 16 member states of the Southern African Development Community (SADC).

PSCTF Patron-in-Chief Dewan Muhammad Yousuf Farooqui stressed the potential for mutually beneficial partnerships.

PSCTF Chairman Muhammad Rafiq Memon said closer cooperation between government institutions, trade bodies and businesses could expand commerce with African countries.

PSCTF Pakistan Chapter President Syed Moizuddin said the conference aimed to translate diplomatic ties into practical economic cooperation.

Among those attending were South African High Commissioner Pierre Jordan, Mauritian Ambassador Munsoo Kurrimbaccus, Zimbabwean Ambassador Tafadzwa Chiyangwa, Rwandan High Commissioner Harerimana and Somali High Commissioner Adur Rehman Hersi.

Senior Pakistani officials included SIFC Secretary Jamil Ahmed Qureshi, Trade Development Authority of Pakistan Chief Executive Officer Faiz Ahmed and Foreign Affairs Ministry Director General Irfan Soomro. Diplomats from several other African countries also attended.

Copyright Business Recorder, 2026