Khadija Mohamed Almakhzoumi, Ambassador of Somalia said that Pakistan should focus on Somalia to penetrate huge market of Africa. She said that Pakistan can capture better market share in Somalia by exporting quality products at affordable prices. She said both countries should focus on specific areas to improve bilateral trade. She said this while interacting with business community at Islamabad Chamber of Commerce and Industry.
The Somali Ambassador said that things were improving in Somalia and government has passed a new investment-friendly law to attract more foreign investment. She said Pakistani investors should explore Somalia for joint ventures and investment as Somalia was looking for foreign investment in many sectors of its economy including in energy, infrastructure development, environment, construction, healthcare and others. She stressed that Pakistan should cooperate with Somalia in skills development to improve its productivity.It was discussed that Somalia Embassy would display samples of its products at ICCI.
Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that Pakistan and Somalia enjoyed good relations, but bilateral trade between the two countries was quite nominal which needed serious efforts from both sides to improve it. He said Pakistan and Somalia have good potential to cooperate in many areas including agriculture, cement, pharmaceuticals, fish farming, energy, real estate, construction, textiles, health, education, medical science, tourism, transport, ICT & telecom and others.
Muhammad Naveed Senior Vice President and Nisar Ahmed Mirza, Vice President, ICCI said that Pakistan and Somalia should focus on frequent exchange of trade delegations and organizing single country exhibitions that would help in improving business linkages and promoting two-way trade between the two countries.