PSATF chief visits KATI: Investors urged to take advantage of opportunity in African countries

KARACHI: Chairman of Pakistan Southern African Trade Federation (PSATF), Muhammad Rafiq Memon has said that most of the Pakistani exporters are focusing on exports to Europe and America.

India has increased its activities in African markets. Pakistani investors take advantage of the opportunity in African countries.

He expressed these views on the occasion of his visit to the Korangi Association of Trade and Industry (KATI).

Muhammad Rafiq Memon further said that Pakistani traders and exporters should introduce their products in the African region, Pakistan Southern African Trade Federation will provide them with all possible support and guidance, and provide all possible facilities to Pakistani trade delegations and exporters.

He said that along with the Southern African Development Community, the five countries that need to be focused on include the Southern African Customs Union, Botswana, Swaziland, Lesotho, Namibia and South Africa.

There will be opportunities for cooperation between Pakistani trading companies and the African business community in various sectors, which will increase trade.

Muhammad Rafiq Memon said that Pakistan’s trade with Africa is around $4 billion, the main reason for the decrease in trade volume is the decrease in trade links of Pakistan with the African region.

President KATI Faraz-ur-Rehman while introducing the Korangi Association said that there is a great demand for Pakistani products worldwide, but due to access to markets and other diplomatic issues, the products are not delivered to the global market on time.

He said that Pakistani exporters are limited to traditional markets, while there are immense opportunities for trade in Africa. The trade volume of the African market is much higher than that of Europe, which exporters should take advantage of.

President KATI said that it is a golden opportunity for textile industry manufacturers to increase their exports to the rest of the world including South America by setting up their units in South Africa. The Pakistani embassy should provide support to the business community to increase trade with South Africa. Unfortunately, Pakistani embassies around the world could not play a sufficient role in promoting trade activities.

Zubair Chhaya, Deputy Patron-in-Chief of KATI, said that the trade between the two countries is far below the actual trade potential. At present, the world is facing economic challenges which Pakistan and South Africa have to promote meaningful trade relations to meet.

He said that trade delegations and exporters can deliver their products to African markets if Pakistan Southern African Trade Federation provides support and guidance.

Copyright Business Recorder, 2023