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Egypt is keen to invest $1bn in Pakistan

17 October, 2019

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Egypt is keen to invest $1bn in Pakistan over the next one year in different sectors mainly in energy, building, Pharmaceutical, Halal Food and Tourism. The bilateral trade has an increasing trend, $260 million as compared to last year $200 million. Both countries are enjoying good relations and there is need to further increase the bilateral exchange of delegation program and information.

These remarks were made by Egypt Ambassador Yaqoob during his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI) on Wednesday.

The envoy informed that Egypt will be declared Hepatitis free country by 2020 and urged Pakistan for joint ventures in Pharmaceutical and health sector. Egypt can help Pakistan to get rid of Hepatitis C.

There is a need to have enhanced Pak-Egypt cooperation in the area of healthcare, he added. He lauded RCCI efforts in promoting trade ties between the two countries and also showed willingness to be part of RCCI Int’l Rawal Expo 2020 in March next year.

First joint working group has been established between Pakistan and Egypt and I hope we can explore more opportunities here, the ambassador further added.

Ms Maria Kazi, Joint Secretary, Ministry of Commerce who was also a part of delegation, in her address said that special incentives would be provided to Pakistani companies through new strategic trade policy framework for participating in trade fairs in Africa, under Look Africa initiative.

She said Pakistan’s exports to Africa were confined to few products including rice, pharmaceuticals, cement, textiles, surgical and sports goods and urged that private sector should focus on exporting more products to Africa.

RCCI President Saboor Malik Presenting memento to Egypt envoy Ahmed Fadel Yacob during his visit to the chamber.

She lauded RCCI efforts for promoting trade activities and appreciated its efforts for organizing Business Africa Forum earlier this year in Islamabad. She assured full support and assistant to RCCI for organizing trade exhibitions in the region.

Saboor Malik, on this occasion, said that African countries are the non-traditional markets for Pakistan’s exports and have huge potentials for enhancing of exports. Chamber while organizing business to business meetings provided a platform to traders to explore new markets.

He said RCCI will organize similar events including business opportunities conference and African Day to involve business community to explore new markets for exports and promoting trade ties with African Countries.

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