First Africa Diplomatic Economic Conference today

Karachi witnessed the inaugural Africa Diplomatic Economic Conference on Tuesday, with the aim of bolstering trade connections between Pakistan and African nations. The gathering brought together diplomats from 16 African states, government officials, and representatives of trade organizations. Organizers anticipate a potential surge in Pakistan's trade with Africa, from a current USD2 billion to an ambitious USD10 billion.

Ahead of the conference, Dewan Muhammad Yousuf Farooqui, the Patron-in-Chief of the Pakistan SADAC Chamber Trade Federation, addressed a press conference in Karachi. He highlighted Africa as an emerging market for Pakistan's exports and underlined the necessity of focusing on new markets due to the current global scenario. Present at the event were PSCTF Chairman Muhammad Rafiq Memon, President of the Pakistan Chapter Syed Moezuddin, and other representatives.

Farooqui emphasized the importance of developing a joint trade strategy to achieve the USD2 billion to USD10 billion trade target with Africa. The conference will center on reducing tariffs, addressing customs issues, and ensuring smoother access for Pakistani goods to African markets. Memon highlighted Pakistan's potential to enhance exports of cement, textiles, rice, and medical devices.

Syed Moezuddin expressed optimism that the first Africa Diplomatic Economic Conference would pave new paths for trade cooperation between the two regions, stimulate Pakistani exports, and strengthen bilateral economic ties.