Pakistan Must Tap Emerging African Markets, Says LCCI President

By Farzana Chaudhry
Lahore, Pakistan

LAHORE: Pakistan must diversify its export strategy and actively engage with emerging African markets to address economic challenges and boost trade, President of the Lahore Chamber of Commerce and Industry (LCCI) Faheem Ur Rehman Saigol said on Tuesday.

His remarks came during a meeting with Pakistan’s Ambassador to the Republic of Djibouti, Aqsa Nawaz, who visited the LCCI to discuss trade and investment opportunities. LCCI Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, and Executive Committee members Shaban Akhtar, Ahsan Shahid, Firdous Nisar, Karamat Ali Awan, Aamir Ali, and Syed Salman Ali were also present.

Speaking on the occasion, Saigol said Pakistan has traditionally focused on European and American markets, while Africa—one of the world’s fastest-growing regions—remains largely untapped.

“Africa offers immense trade potential, particularly in the agricultural sector, where Pakistan must work more seriously,” he said, noting that agricultural production in neighbouring India has increased, while Pakistan’s cotton quality and output have declined, requiring urgent corrective measures.

The LCCI President warned that Pakistan’s widening current account deficit cannot be addressed without exploring new export destinations. He stressed the importance of understanding market dynamics in countries such as Djibouti to expand Pakistan’s export base.

Saigol also highlighted the vast potential of the global halal industry, saying the market has exceeded $3 trillion, yet Pakistan’s share remains minimal despite its status as a Muslim-majority country.

Ambassador Aqsa Nawaz said her diplomatic experience in Africa had revealed significant opportunities for trade and investment. She described Djibouti as a stable and peaceful country with a strategically important port that serves as a gateway to Africa and enjoys geographical proximity to Pakistan.

She noted that Pakistani traders are already active across Africa but said substantial scope exists to further increase exports. Emphasizing product promotion, she urged the organization of trade exhibitions, adding that African economies are growing rapidly and Pakistani goods align well with regional market needs.

The Ambassador said Djibouti has established free trade zones and port-based warehousing facilities, enabling goods to be distributed across the African continent. She also emphasized the export of Pakistan’s skilled human resource, urging businesses to view Africa as a long-term strategic export destination.

Assuring full support to the business community, Aqsa Nawaz said Pakistan’s diplomatic missions would facilitate trade by organizing single-country exhibitions in Africa, offering logistical support and visa facilitation. She also proposed forming business delegations to Djibouti, Tanzania, and other African countries, where business-to-business meetings would be arranged to strengthen commercial ties.