A trade delegation from domestic engineering industry, led by Advisor to the Prime Minister on Industries & Production, Commerce, Textile and Investment Abdul Razak Dawood, will attend "1st Africa-Pakistan Trade Development Conference" from 30th-31st January, 2020 in Nairobi, Kenya, which is being organised under "Engage Africa" initiative of Pakistan.
Almas Hyder, Chairman BoM, shall represent Engineering Development Board (EDB) in the conference.
The objective of trade delegation's visit is to explore trade enhancement opportunities in the African region which is one of the potential markets for Pakistan's exports being the second largest continent in the world, spreading over 20 percent of the world landmass and a collective GDP of over $2.3 trillion. It offers an import market of around US $500 billion. In 2018, trade between Pakistan and Africa stood at $ 3.6 billion which can be doubled with serious efforts.
There is a huge untapped export potential for Pakistani domestic engineering industry to cater to the needs of African market. The present government is pursuing an export-led growth strategy for economic stability which can be achieved only if there is concentration on the export of value-added products pro-actively towards perspective customers and target markets. The EDB has been playing a vital role to strengthen the local engineering sector and integrate it with the world market to make it the driving force for economic growth. It is anticipated that engineering sector would become the largest exporting sector from Pakistan and goal is to substantially increase exports from the current level of $1.3 billion.
It is pertinent to mention that EDB is working in close coordination with all relevant organizations in order to make this trade delegation's visit a success. Representatives from engineering sub-sectors like tractor manufacturers, motorcycle & rickshaw manufacturers, electric fans manufacturers, surgical instruments, pumps & motors, cutlery & utensils manufacturers and engineering services shall be part of the delegation. This conference is not only expected to enhance economic activities between Pakistan and African region but will also prove to be conducive in deepening cultural/social links.
The conference will include multiple sessions of B2B with the counterparts in order to achieve fruitful results.
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