ISLAMABAD: A delegation of the Islamabad Chamber of Commerce and Industry (ICCI), led by President Ahsan Zafar Bakhtawari, met Imran Ahmed Siddiqui, Additional Secretary (Asia Pacific) at the Ministry of Foreign Affairs, to discuss ideas for enhancing Pakistan’s trade and exports through a focus on trade diplomacy.

Addressing the delegation, Imran Ahmed Siddiqui emphasized thatAssociation of Southeast Asian Nations(Asean), Central Asia, and Africa offer substantial untapped markets for Pakistan.He stressed that the business community should concentrate efforts on these regions to improve the country’s trade and exports.Siddiqui highlighted Pakistan’s production of high-quality pharmaceuticals and other products that could gain a significant market share in these promising markets.Siddiqui urged the business community to engage in joint ventures with foreign counterparts and facilitate technology transfer to Pakistan, thereby upgrading the countrys production capacity.He assured full cooperation with the private sector in exploring new markets to enhance the countrys exports.

Ahsan Zafar Bakhtawari underscored the need for Pakistan to prioritize trade diplomacy as a means to boost prosperity and economic growth.He emphasized the crucial role of Pakistani diplomats in foreign countries in identifying new avenues for promoting Pakistani exports.

Bakhtawari noted that through effective trade diplomacy, Pakistan could attract more foreign investment and secure advantageous trade agreements with other nations, reducing dependence on foreign loans.He announced ICCI’s plans to organise a Pakistan-Asean Business Forum to explore potential areas for business collaboration with Aseancountries.

He mentioned that ICCI delegations have already visited Indonesia, and another delegation is scheduled to explore opportunities in Thailand.Bakhtawari expressed the ICCI’s commitment to working closely with the Ministry of Foreign Affairs (MOFA) to strengthen the country’s trade diplomacy.

Engineer Azharul Islam Zafar, Vice President of ICCI, emphasized the importance of close cooperation between Pakistani diplomats in foreign countries and chambers of commerce to promote business and economic interests in the international market.

He stressed the need for diplomats to provide full support to Pakistani business delegations during their visits to foreign countries. Zafar Bakhtawari, former President and Secretary General of UBG Pakistan, highlighted the global shift from geopolitics to geoeconomics to boost business and investment.

Published in Dawn, November 19th, 2023