Pakistan should focus on 800-billion-dollar market in African: seminar told.

KARACHI -- Chairman Pakistan Southern Africa Trade Federation Muhammad Rafiq Memon has said that the only solution to stabilize the country's economy is to increase exports. It is impossible to increase trade without diplomatic relations. Attention should be paid to the 800-billion-dollar market offered by the African region.

He expressed these views while addressing as key speaker in a seminar organized on the theme of "Look Africa-Potential Trade and Business Opportunity" at the head office of Korangi Association of Trade and Industry by the Korangi Association of Trade and Industry (KATI), according to a statement issued on Thursday. "Look Africa Policy" should not remain only on paper, something will have to be done in practical. If the Pakistani business community living abroad is represented in the diplomatic missions, our exports can increase many times. The consumption of Pakistani products can be massively increased in South Africa, the gateway to the African region for which the Pakistan Southern Africa Trade Federation will provide all kinds of support and assistance to Pakistani exporters and traders. On this occasion Patron In Chief S.M Tanvir and KATI President Faraz-ur-Rahman, Deputy Patron In Chief Zubair Chhaya, Senior Vice President Nighat Awan, Chairman Seminar Committee Zaki Ahmed Sharif and members of the Executive Committee and others were also present.

Muhammad Rafiq Memon said that Pakistan Southern Africa Trade Federation is trying to promote Pakistani exports in the African region consisting of 54 countries and is currently representing 9 important African countries while 6 other countries of the region will soon join its network. With a total population of 1.32 billion, the continent of Africa is 16.72% of the world's population, its growth rate is expected to increase rapidly in the next five years and it will soon overtake the rest of the world in terms of economic growth, therefore, it is important for Pakistan to take advantage of such a large market.

He said the Ministry of Commerce launched the Look Africa policy in 2017 which is encouraging and has yielded better results, however compared to China and...