Pakistan and several African nations launched a new trade body on September 12. It is called the Pakistan-Africa Economic Council, or PAEC.
The goal is simple. Both sides want to raise trade between them to $15 billion by 2030.
Diplomats from Rwanda, Mauritius, Morocco, Zimbabwe, Sudan, Kenya, and Ethiopia joined the launch in Islamabad. Pakistani officials and business leaders attended too.
Speakers said several sectors could grow this trade. These include agriculture, textiles, pharmaceuticals, IT, mining, food, education, and infrastructure.
Federal Minister for Defence Production Muhammad Raza Hayat Hiraj called the council’s launch a big step forward. He pointed to Africa’s population of 1.5 billion people as a key reason for Pakistan to build closer trade links.
KP Governor Faisal Karim Kundi also spoke at the event. He praised Ambassador Hamid Asgher Khan for leading the new council.
Khan, who serves as PAEC’s Patron-in-Chief, described Africa as a “slumbering giant” that is now waking up. He said trade between the two sides remains far below what it could be.
Khan gave one clear number here. Pakistan’s IT trade alone stands at $2.7 billion right now. He said this figure could double with stronger ties to Africa.
FPCCI President Atif Ikram Sheikh said 54 African countries hold real value for Pakistan’s business community. He said his organization plans to act as a bridge between businesses on both sides.
