Pakistan, African countries eye $15bn trade by 2030
ISLAMABAD: Pakistan and African countries at the inaugural ceremony of the Pakistan-Africa Economic Council (PAEC) reaffirmed their resolve to raise bilateral trade to $15 billion by 2030, diversify economic and trade relations, and bring the private sectors, including chambers of commerce from both sides, closer to each other. The two sides also reiterated their commitment to promoting mutual…
On September 13th, 2026, Pakistan and African nations gathered at the inaugural ceremony of the Pakistan-Africa Economic Council (PAEC) to reaffirm their commitment to boosting bilateral trade to $15 billion by 2030. The event aimed to diversify economic and trade relations while fostering closer ties between the private sectors of both regions.
Ambassadors, high commissioners, and consuls general from countries like Rwanda, Mauritius, Morocco, Zimbabwe, Sudan, Kenya, and Ethiopia attended the ceremony. Discussions centered around promoting trade, investment, and business ties between Pakistan and African nations.
Federal Minister for Defence Production Raza Hayat Hiraj emphasized that the forum would significantly enhance economic and trade ties between African countries and Pakistan, marking a milestone in their economic history. He highlighted Africa's vast population of 1.5 billion as a significant opportunity for Pakistan, stressing the importance of the private sector in expanding economic and trade relations.
Khyber Pakhtunkhwa Governor Faisal Karim Kundi expressed optimism about the forum's role in strengthening economic and trade relations, noting Africa's promising future. He pointed out that a rising Africa and emerging Pakistan held immense potential for growth. PAEC Patron-in-Chief Hamid Asgher Khan described Africa as a "slumbering giant" that was awakening, emphasizing its potential to play a crucial role in the global geo-economy.
He stressed the need to increase bilateral trade to $15 billion to fully exploit the region's potential. Khan also pointed out that Pakistan's current economic and trade potential in IT stood at $2.7 billion but could double with stronger connectivity with Africa.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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