Zubair Qureshi Islamabad
President of the Pak-Africa Business Forum (PABF) Omar Shahid Butt has invited the Pakistani businessmen and entrepreneurs to ‘look towards Africa’ for marketing of their products as Africa consisting of 54 countries has an enormous range of business opportunities so far lying untapped and unexecuted.
In an exclusive interview with Pakistan Observer Omar Butt said Africa had raw materials in abundance and the fact that 70 percent of sub-Saharan Africa was under the age of 30 further highlights promising potential for the Pakistani business community.
Africa thus is a dream market for companies looking for a new consumer base, he said. Omar Shahid Butt who has recently been actively engaged in promoting business-to-business links between Ghana and Pakistan since he is the Honorary Deputy Consul General of the country in Pakistan, said that Africa had a GDP of US $ 3 trillion and the landmass of Africa is larger than China, the US, and the EU combined. He added that Africa had a population of 1.2 billion, which has been projected to double in the next 30 years, offering many opportunities for our business community.
Butt further explained that Africa offered great scope for the Pakistani pharmaceutical industry, as there were only 375 pharmaceutical companies operating in the whole continent. The continent is also a good destination for Pakistani rice exporters, as it is a necessary commodity for which demand is constant on the continent, especially in West Africa. “Many people in Africa prefer to consume IRRI-6 (broken rice) grown mostly in Sindh, “ he said, adding that Africa is also a good market for the agricultural machinery that can be beneficial to Pakistan.
He said that Gwadar Port was well positioned for trade with Africa, and can be utilized appropriately by increasing trade with Africa, as trade with a dozen Middle Eastern countries will not help utilize the potential of Gwadar. Pakistan can also satisfy its needs by importing many things from Africa at a competitive price, which will help the masses facing high inflation.
“We need a firm focus on trade with Africa, for which different steps are needed, including full implementation of the ‘Look Africa Policy’,” he demanded. China Pakistan Economic Corridor (CPEC) has further highlighted Pakistan’s geostrategic position in the region as it can link Africa with Central Asia and beyond, he said. He offered to facilitate visits for the Pakistani companies that want to do business with Africa.
