Kenya allows Pakistani banks to open their branches to facilitate Pakistani exporters in Africa
Africa is willing to stimulate the growth of the Pak-African trade volume up to $8 billion during the next five years- Abdul Razak Dawood.
The Central Bank of Kenya has agreed to allow Pakistani banks to open offices to facilitate Pakistani exporters in Africa.
The Adviser for Commerce, Textile, Industry & Production and Investment, Abdul Razak Dawood said, Africa is willing to stimulate the growth of the Pak-African trade volume up to $8 billion during the next five years.
Pak-Africa Economic Statistics
|Pak-Africa current trade volume||$4 billion|
|Estimated Pak-Africa trade volume in the next five years||$8 billion|
|Current share of Pakistan under its ’Look Africa Policy Initiative’||$2.4 trillion|
|Estimated share of Pakistan under its Look Africa Policy Initiative in the next 10 years||$4 trillion|
During the recent seminar under the Look Africa Policy that was held in Kenya on the 31st of January, 2020 Pakistani Businessmen managed to get millions of dollars of export orders.
The businessmen attained orders for fruits, vegetables, rice, processed food, confectionery, pharmaceuticals, sports goods, tractors, cement, and light engineering sector businesses.
Abdul Razak Dawood further said that Pakistan is opening six new Trade Wings at Pakistani embassies in Africa. These include Egypt, Ethiopia, Senegal, Algeria, Tanzania, and Sudan.
Dawood said under the Look Africa Policy , Pakistan will also hold a conference in Karachi this October where business and official delegates from Africa will be invited.
The Advisor added the third seminar will be held either in Nairobi or in Morocco for interaction with West African countries.
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