F.P. Report
ISLAMABAD: Adviser to the Prime Minister on Commerce, Industries and Investment Abdul RazakDawood on Friday welcomed the Chief Guest, the President of the Republic of Kenya Uhuru Kenyatta to inaugurate Pakistan Africa Trade Development Conference 2020 (PATDC-20) at Nairobi, Kenya.
The President of Kenya, in his address, thanked Pakistan for hosting PATDC-20, which was first of its kind in Kenya, said a press release issued by ministry of commerce here.
He said by choosing Kenya, it had been proved that Kenya was the gateway to Africa.
He also met Pakistani businessmen and announced that he would visit Pakistan soon on the invitation of Prime Minister Imran Khan.
He declared that Kenya values friendship with Pakistan and desires to enhance bilateral trade.
The Kenyan foreign minister and trade minister also attended the PATDC-20 and held bilateral meetings.
The Kenyan Ministry of Commerce and East African Association also presented business opportunities in East Africa at the PATDC-20, while Dawood held meetings with business community of Kenya and other African countries.
The adviser met with the delegation of Kenyan Association of Manufactures (KAM) and discussed possibilities to get benefit from market access under the African Growth and Opportunity Act (AGOA).
Moreover, opportunities of forming joint ventures in tea, leather, and readymade garments sector also came under discussion between both sides.
The adviser also met with a delegation of the ElAraby Group from Egypt.
The delegation discussed the possibilities and opportunities of joint ventures with local Industry in the home appliances sector.
He also held a meeting with the delegation of Nigerian Manufacturing Associations.
During the meeting, the Advisor emphasized that Pakistan should benefit from the Economic Community of West African States (ECOWAS) trading bloc and both the countries should explore the opportunities in this regard.
The advisor held a meeting with the delegation of Rainbow Traders. During the meeting discussion was held on developing a pricing system which will cater to the economies according to their purchasing power.
The advisor held a meeting with the delegation of State Bank of Mauritius.
He emphasized that both the countries should open corresponding branches in each other countries.
He said the State Bank of Pakistan can collaborate with its Mauritian counterpart to improve banking channels between the two countries.
The adviser met with the Governor Central Bank of Kenya.
He was accompanied by the representative of State Bank of Pakistan. During the meeting issues relating to improvement and channelizing of the banking sector came under discussion.
The adviser apprised the Governor of the challenges being faced by the banks and also highlighted the opportunities which can be explored for the banking system which is an important tool in trade.
Leading Pakistani companies and African companies held over 1000 B2B meetings on the sidelines of the conference.
These included K.K. Rice Mills, Forward Sports, GlitizPharma, Royal Fans, Hilbro International and Sapphire, etc amongst others.
While in inaugurating session of Pak-Africa ‘Trade Development Conference, Secretary Commerce, Ahmed Nawaz Sukhera made a comprehensive presentation on the Trade and Investment opportunities that Pakistan offers.
He informed Pakistan-Africa trade was well below its true potential.
He invited the African delegates to enter into long-term partnerships with Pakistan, which will be mutually beneficial for both sides.
He stressed that there was a need to enhance Pakistan-Africa trade and develop banking and transportation channels.
He highlighted that Pakistan was on the path of economic growth and had attracted Foreign Direct Investment from leading investors in the last year.
