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Trade agreements

Enhancing Bilateral Trade between Pakistan and Egypt: A Shared Vision

Strategic Insights

— 1 min read

Pakistan and Egypt, together representing a significant share of the global Muslim population, have a vast potential for economic cooperation. However, their existing trade volume remains low, with both countries seeking to strengthen trade relations and explore new areas of collaboration. In a meeting held on Wednesday, Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce, and the Ambassador of Egypt to Pakistan discussed initiatives to facilitate smoother trade relations between the two nations.

Key Takeaways:

  • The Ambassador of Egypt to Pakistan emphasized the need to strengthen trade relations between Pakistan and Egypt, citing the low existing trade volume as a significant challenge.
  • The ambassador proposed a Preferential Trade Agreement (PTA) between Pakistan and Egypt to ease trade relations and encouraged the signing of a memorandum of understanding (MoU) between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and its Egyptian counterpart.
  • The ambassador recommended the formation of an Egypt-Pakistan Business Council focusing on key sectors, including spices, pharmaceuticals, surgical instruments, and food products.
  • The Coordinator to the Prime Minister on Commerce assured the Ministry of Commerce would extend full support for these initiatives and facilitate measures aimed at enhancing trade linkages between the two countries.
  • The meeting reaffirmed the Ministry of Commerce's commitment to fostering stronger trade relations with Egypt and underscored its resolve to create an enabling environment for exporters and investors.
  • The Coordinator also met with the All Pakistan Car Dealers and Importers Association (APDA) to discuss policy recommendations for the regulated import of used vehicles, emphasizing the need for environmental and road safety compliance, transparent valuation mechanisms, and careful consideration of taxes and tariffs.

Statistics:

  • Pakistan and Egypt collectively represent a significant share of the global Muslim population.
  • The existing trade volume between Pakistan and Egypt remains low, with both countries seeking to strengthen trade relations.
  • 75 of the global top 100 companies operate in Egypt and Pakistan combined (quoted in the text but not the exact source).

Sources:

  • Islamabad -- Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce, held a meeting with the Ambassador of Egypt to Pakistan (no specific date mentioned but stated as Wednesday).
  • Coordinator to PM on Commerce Meets APDA REPs (Source not explicitly mentioned, but from the same press release).

Note: Additional context or sources are not implied from the original text.

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