Egyptian Business Community Likely to Invest in Pakistan’s Auto, Agriculture Sectors

The Fourth Pakistan-Africa Trade Development Conference (PATDC) and Single Country Exhibition (SCE) concluded in Cairo on a high note, opening new vistas for all major sectors of Pakistan to capture this untapped potential market, boosting exports, and further cementing bilateral relations. The preliminary data revealed that around 1,200 business-to-business and government-to-government meetings were held during this event, where the Egyptian business community showed keen interest in 13 different Pakistani products and sectors and is likely to sign long-term agreements, especially in the auto and agriculture sectors in the coming days. Caretaker Federal Minister for Commerce and Industries & Production Dr. Gohar Ijaz, led the delegation. At the same time, Pakistan’s Ambassador to Egypt Sajid Bilal played a vital role in making the event a success. For the first time, Pakistan brought around 120 companies to Egypt to enhance trade and economic cooperation and open new horizons between Egypt and Pakistan. The exhibition showcased opportunities for trade enhancement and signing joint venture deals between local and Pakistani businessmen in multiple sectors of mutual interest. “Productive visit to Egypt completed, which opened new avenues for our business community with Egypt & Africa”, said Dr.Ejaz. After China and GCC, the Look Africa Mission was a huge achievement as Pakistani companies received a significant response, which is expected to be converted into long-term agreements and boost bilateral trade as well as Pakistani exports. He further said that the government is now focusing on non-textile and agriculture. Pakistan has already successfully increased exports from $2.068 billion in July, including $1.4 billion in textile and $700 million in non-textile to $2.812 billion. He vowed to increase bilateral trade with Egypt ten times. He stressed that if Pakistan, Egypt, and MENA region countries can combine their strengths in different sectors of the economy, it would yield a win-win situation for all. Pakistan and Egypt being brotherly countries need to support each other. He invited Egyptian investors to visit Pakistan. He asked the Egyptian and MENA business community to send a resounding message to the world together while saying that they can work together and become an economic powerhouse ultimately giving their people the prosperity they deserve. Ambassador Sajid Bilal said that the government of Pakistan under the “Look Africa” Policy has successfully conducted similar events in Johannesburg, Lagos, and Nairobi yielding greater commercial benefits. Under this Policy, the government of Pakistan aims to find alternate markets for its goods and enhance government-to-government and business-to-business ties with countries in the African region. We are reaching out to the MENA region to forge stronger ties with peoples, institutions, and authorities, he added. Egypt is the gateway to Africa; our brotherly relations will grow stronger with the development of bilateral Trade, he added. The Ambassador highlighted that this event coincides with the celebration of the 75th anniversary of the establishment of diplomatic relations between Pakistan and Egypt. According to the preliminary data, AL Kamil, a company based in Alexandria, Egypt, has invited Herbal Lagoons to visit their factory and plan some future joint ventures. AL Kamil is involved in value-added products manufacturing related to horticulture and herbs. Nile Garden, a company based in Cairo has shown keen interest in importing corn germs from Pakistan and has requested HLs to provide further details on this project. In this regard, HL will hold online meetings too. They required 4 tons of Corn germ on an initial basis. Omran Trading Company is interested in trail shipment from Herbal Lagoons for value-added products such as dried onions, tomatoes, etc. EL Tawargy, a company based in Cairo showed interest in Pomace olive oil. They will remain in touch with Burg Olive for further collaboration. Ethmar Green, Based in Giza, is interested in visiting Pakistan to see the olive farm of Burg Olive Farm and find potential future collaboration. A company based in Cairo is interested in working with Islamabad Agri for a joint venture for grapes processing. Pakistan’s auto sector received big indications and is likely to sign long-term agreements with Egyptian companies in the near future. El-NASR Automotive Manufacturing Company (NASR) of Egypt has a keen interest in this regard and started an engagement with Haval of Sazgar Motors Pakistan.