Economic engagement with Eastern Europe remains far below expectations: FPCCI

KARACHI: President FPCCI Atif Ikram Sheikh has called for a strategic and concerted effort to expand Pakistan’s trade and investment relations with Eastern Europe, describing the region as a promising and largely untapped market offering significant opportunities for Pakistani exporters, investors and businesses.

He said that Pakistan’s economic engagement with Eastern Europe remains far below its potential.

According to State Bank of Pakistan data, Pakistan’s exports to the Eastern European region increased from USD 740 million in FY2024 to USD 758 million in FY2025, while imports declined from USD 1.67 billion to USD 705 million during the same period. Total two-way merchandise trade stood at approximately USD 1.46 billion in FY2025.

“While the recent growth in our exports is encouraging, the overall volume of trade remains modest in view of the economic potential, market size and strategic importance of Eastern Europe.

This clearly demonstrates that we need to diversify our export destinations and make a concerted effort to explore these relatively untapped markets,” Atif Ikram Sheikh stated.

The President said that Romania, Poland, Hungary, Czech Republic, Bulgaria, Slovakia, Slovenia, Croatia, Ukraine and other Eastern European markets offer opportunities for Pakistani products and services.

He emphasized that Pakistan should not remain excessively concentrated in its traditional European markets and should develop new business linkages with emerging and under-explored destinations.

He identified textiles and apparel, home textiles, rice and food products, surgical and medical instruments, sports goods, leather products, furniture, agriculture and food processing, pharmaceuticals, IT and digital services among the sectors that could find greater market opportunities in Eastern Europe.

Atif Ikram Sheikh said the newly established FPCCI EU Forum would facilitate greater interaction with European chambers of commerce, business associations, importers, distributors and investment institutions.

“The FPCCI EU Forum will provide a platform to identify new markets, establish direct B2B linkages and develop trade and investment partnerships between Pakistani and European businesses,” he added.

He proposed exploring Pakistan - Eastern Europe Business Forums, sector-specific B2B meetings, buyer–seller interactions, trade delegations and participation in major European exhibitions, with particular emphasis on markets where Pakistan’s presence remains limited.

The FPCCI President stressed that Eastern Europe should be viewed not only as a collection of individual markets but also as a strategic gateway to the wider European Union and European supply chains.

He said Pakistan could explore opportunities in both exports and investment partnerships, including joint ventures, distribution networks, logistics, food processing, manufacturing and technology services.

“Pakistan must look beyond traditional markets and actively pursue new economic frontiers.

Eastern Europe represents one such frontier, with substantial untapped potential for trade, investment, technology cooperation and private-sector partnerships.

FPCCI, through its EU Forum, is committed to working with relevant institutions and the business community to convert this potential into concrete commercial opportunities,” Atif Ikram Sheikh stated.

Copyright Business Recorder, 2026