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Business

Pakistan’s ‘Look Africa Policy’ shows impressive results despite COVID-19

  • Pakistan’s exports to Malawi grew by a whooping 1254pc from just $0.093mn in 2019 to $1.266mn in 2020.
11 Aug 2020

Pakistan’s ‘Look Africa Policy’ showed impressive results as the country’s exports to non-traditional markets in 2020 grew exponentially despite the COVID pandemic.

As per the data released by the Ministry of Commerce, Pakistan’s exports to Libya grow 914pc to $2.369 million in 2020 as compared to $0.234mn in 2019. Whereas, the exports to Cameroon increased by over 200pc to $2.958mn in 2020, as compared to $0.902mn recorded in 2019.

Furthermore, Pakistan’s exports to Malawi grew by a whooping 1254pc from just $0.093mn in 2019 to $1.266mn in 2020.

“Our ‘Look Africa Policy’ continues to show some results as Pakistan’s exports in a number of African countries posted reasonable growth,” said Advisor to Prime Minister on Trade Abdul Razzak Dawood.

“Although, the overall export value is still smaller as compared to the existing potential, but our exporters must be appreciated for their efforts to find new markets for Pakistani products, despite the overall impact of Covid on global economy,” he said.

“African continent is one of the key elements in our geographical diversification policy and MOC will continue to pursue this vigorously in order to carry on with the momentum,” the advisor reiterated.