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Business & Finance

Pakistan should take advantage of trade potential in Africa: Chairman PSATF

  • The Trade and Investment Center will soon provide excellent assistance to traders and investors in Pakistan and other countries in introducing their products and increasing exports.
Published February 1, 2021

Muhammad Rafiq Memon, Chairman, Pakistan Southern Africa Trade Federation, has said that South Africa will be a paradise for exporters in the near future due to its vast market and product consumption. Therefore, the Chambers of Commerce of Pakistan and other countries should take advantage of the tremendous potential for trade and exports in the attractive African region.

The Trade and Investment Center will soon provide excellent assistance to traders and investors in Pakistan and other countries in introducing their products and increasing exports.

He expressed these views while addressing a virtual meeting on the occasion of International Chambers Convention 2021 in Islamabad, Pakistan organized by Rawalpindi Chambers of Commerce and Industry in which about 60 different chambers from Pakistan and around the world participated.

The President of Rawalpindi Chamber of Commerce and Group Leader Sohail Rajput introduced the Chambers and gave a detailed report on the three-day conference.

On the third day of the convention, a virtual conference was held which was attended by the presidents of more than 50 chambers of commerce of Pakistan and representatives of various trade and business associations and organizations. President of Rawalpindi Chambers of Commerce and Industry and presidents and representatives of other chambers signed MoUs for enhancing future trade and business ties and mutual trade.

Presidents of Overseas Chambers and Trade Organizations attending the conference include Pakistan Southern Africa Trade Federation Chairman Muhammad Rafiq Memon, Dhaka Chamber of Commerce President Rizwan Rehman, UK Chamber of Commerce President Ms Fareeha Qudoos, Romania Chamber of Commerce President Edward, Ibrahim Patel, President of Minara Chamber of Commerce, Sami Zaki, President of Cairo Chamber of Commerce, Joel Blake, President of Birmingham Chamber of Commerce and Presidents of Tanzania, Oman and Uzbekistan Chamber of Commerce.

Memon briefed the participants on the Global Change Role of South Africa and the African Region and its future economic policy. Giving a detailed briefing, he invited the Presidents and other members of the Chambers of Commerce of other countries including Pakistan to visit South Africa and spoke about the future establishment of trade centers and facilities provided to traders and industrialists as South Africa is being offered as a gateway for trade with Southern Africa.

He said trade delegations will be exchanged with various countries soon. He said that there are excellent opportunities for exporters in Iswatini especially in grocery, home appliances, construction and manufacturing.

He said that semi-finished products should be used for value addition while mutual trade is suitable in the mining field. Due to high cargo plane rates, other routes and Pakistan Postal Service can be used for money transfer. There should be direct flights from Pakistan to Mozambique and South Africa, PSL teams should be sent all over Africa to search for young Pakistani talent, Pakistani manufacturers should come to Africa especially Mozambique and set up factories in different sectors.

He further said that we need government support to safeguard investment in real estate in Pakistan. During the meeting, businessmen from different countries expressed special interest in trade, especially in tourism, information technology, real estate and other sectors.

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