Vast Potential to Strengthen Pakistan–Egypt Trade Relations: LCCI President

By Our Staff Reporter Farzana Chaudhry
LAHORE: Egyptian Ambassador Dr Ihab Abdelhamid visited the Lahore Chamber of Commerce and Industry (LCCI), where he was warmly received by President Faheem-ur-Rehman Saigol, Senior Vice President Tanveer Ahmed Sheikh, and Vice President Khurram Lodhi. Members of the Executive Committee, including Firdous Nisar, Syed Salman Ali, Karamat Awan, Ahsan Shahid, Aamir Ali, and Irfan Qureshi, were also present on the occasion.

LCCI President Faheem-ur-Rehman Saigol underscored the need to further strengthen trade and economic relations between Pakistan and Egypt, highlighting Egypt’s pivotal role under Pakistan’s “Look Africa” policy. He noted that the current bilateral trade volume stands at around USD 232 million, far below its true potential. He added that Pakistani products have strong market prospects in Egypt and emphasized the importance of exploring new markets to expand exports, with a target of raising bilateral trade to USD 2 billion.

The LCCI president also pointed out significant opportunities for cooperation in the tourism and hospitality sectors, inviting Egyptian investors to explore ventures in Pakistan’s hotel industry, food streets, and recreational parks. He assured that LCCI would provide full facilitation and support to promote such initiatives.

Ambassador Dr Ihab Abdelhamid said that Pakistan and Egypt share longstanding religious, cultural, and economic ties. He described Lahore as the economic and cultural heart of Pakistan, adding that engagement with its vibrant business community would help deepen bilateral cooperation.

The Ambassador stated that the bilateral trade volume currently stands around USD 300 million, which must be increased through targeted efforts. He emphasized the potential for collaboration in textiles, cotton, engineering products, processed foods, value-added goods, and the construction sector.