Pakistan-Africa Economic Council launched to boost trade

The Pakistan-Africa Economic Council (PAEC) has been officially launched in Islamabad to strengthen commercial and investment ties between Pakistan and African nations. The initiative aims to increase bilateral trade to $15 billion by 2030, shifting the relationship from traditional diplomacy toward private-sector partnerships.

During the launch, officials highlighted Africa’s vast market potential, noting its population of approximately 1.5 billion. Khyber Pakhtunkhwa Governor Faisal Karim Kundi encouraged Pakistani entrepreneurs to view Africa as a primary market, citing complementary strengths in agriculture, manufacturing, and services. Hamid Asghar Khan, the council’s Patron-in-Chief, announced a three-month agenda that includes upcoming delegations to countries such as Rwanda and Ethiopia to connect Pakistani producers with African buyers.

Participants noted that while trade currently remains below its potential, there are significant opportunities for growth in sectors including IT, pharmaceuticals, textiles, engineering, and agricultural products. The council intends to provide a structured platform for chambers of commerce and investors to foster sustainable economic growth and job creation.