Business Community Urged to Venture into Africa’s Untapped Markets

ISLAMABAD ( WNAM REPORT): Dr. Ahmed Ali Sirohey, Director General Africa at the Foreign Ministry, discussed Pakistan’s “Look Africa” policy, also known as “Engage Africa,” during an interaction at the Islamabad Chamber of Commerce and Industry (ICCI). The policy aims to strengthen Pakistan’s economic, trade, and diplomatic ties with African nations, diversifying trade and reducing reliance on traditional markets. Pakistan has taken concrete steps, such as establishing diplomatic missions, signing trade agreements, and setting up joint commissions to foster economic cooperation.
Despite challenges like infrastructure constraints, competition, and security concerns, Sirohey emphasized Pakistan’s commitment to the policy, recognizing the vast potential for mutual benefit. He pointed out that Africa’s combined GDP is around $3.4 trillion, presenting significant opportunities for Pakistan’s business community. He urged Pakistani businesses to seize these opportunities, which would benefit not only their own ventures but also contribute to the nation’s overall economic growth.
Sirohey highlighted that the business community has a crucial role in filling the existing gaps in Africa, and if other countries’ businesses step in first, it would be harder for Pakistan to establish its foothold. He stressed that ICCI, as a leading chamber, should take the lead by organizing business delegations and fostering closer ties with relevant African chambers to explore new markets. 
Earlier, Nasir Mansoor Qureshi, President of ICCI, welcomed Dr. Sirohey and shared the chamber’s initiatives, including promoting entrepreneurship, fostering industry-academia linkages, and working with government entities to ease the business environment. He outlined plans for business delegation exchanges, exhibitions, expos, and conferences to strengthen bilateral trade relations.
Senior Vice President Abdul Rehman Siddiqui suggested focusing on Central Asia and Africa for economic growth alongside traditional markets. Vice President Nasir Mehmood Chaudhry emphasized the active role of trade counselors in boosting exports, while Former Senior Vice President Tauseef Zaman praised Dr. Sirohey’s contributions as a seasoned diplomat in enhancing bilateral relations. Other members present included Executive members, Chaudhry Mohammad Waseem, Malik Mohsin Khalid, former Vice President Saeed Ahmed Bhatti, ICCI member Chaudhry Javaid Sabir, and Secretary General Ghulam Murtaza.