Pakistan, ASEAN countries can promote Halal trade: SVP FPCCI
KARACHI: Senior Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Saquib Fayyaz Magoon has said that Pakistan and ASEAN countries like Malaysia and Indonesia are leaders in Halal market and we can jointly develop Halal certification, standards, and promote Halal trade which is a USD7 trillion global market. Speaking at Pakistan ASEAN Business Roundtable…
Senior Vice President of FPCCI, Saquib Fayyaz Magoon, highlighted the potential of the $7 trillion global Halal market, noting that Pakistan and ASEAN countries like Malaysia and Indonesia are leaders in the Halal industry. Speaking at the Pakistan ASEAN Business Roundtable at FPCCI, Magoon emphasized that bilateral trade between the two regions is worth $11-12 billion, but Pakistan imports far more than it exports.
He pointed out that Pakistan can act as a gateway to Central Asia, Middle East and Western China for ASEAN through CPEC and Gwadar, while ASEAN can serve as a gateway to the wider Asia-Pacific market for Pakistan. Magoon proposed establishing a joint business forum with FPCCI as the secretariat and ASEAN chambers, along with annual sectoral working groups on IT, Textiles, Agri-food, Halal Industry, and SMEs.
He also suggested organizing a Pakistan-ASEAN Trade Expo in Karachi and Pakistan Pavilions in major ASEAN fairs to facilitate direct B2B linkages, direct flights, banking channels, and a digital B2B portal. Magoon stressed that visa facilitation for Pakistani businesses in ASEAN is a significant obstacle and urged ASEAN countries to streamline visa processes for Pakistani entrepreneurs.
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