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March 28, 2024

Africa, Asia sign MoUs with Pakistan’s Trade Chambers

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From Left Mr. Irfan Sheikh, President the Federation of Pakistan Chambers of Commerce and Industry, and Mr Stephane Miezan 2nd Vice President Ghana National Chamber of Commerce and Industry with others after the signing of the MoU in Lahore

 

BY Maureen Okon

A Nigerian Pharmaceutical company, two African Chambers of Commerce and Asia on Friday signed some Memoranda of Understanding (MoUs) with the Federation of Pakistan Chambers of Commerce and Industry (FOCCI) in Lahore.

The News Agency of Nigeria (NAN) reports that the MoUs were signed during the 2nd edition of the Engineering and Healthcare Show (EHCS,) holding from Feb. 23 to Feb. 25 in Lahore, Punjab Province.

NAN also reports that the MoUs were signed separately in a private ceremony with each countries and FPCCI during the EHCS at the trade centre.

The firms that signed the MoUs were: NHC Pharmaceuticals Limited as well as the Ghana National Chambers of Commerce and Industry.

Others were: Zimbabwe National Chambers of Commerce and Hong Kong Trade and Investments Forum.

Speaking at the signing agreement Mr Irfan Sheikh, the President of the Federation of Pakistan Chambers of Commerce and Industry, said trade between Pakistan and Ghana has been growing steadily over the past few years.

He, however, said, that the speed at which the volume of the trade relations was growing was relatively small but needed to increase immensely in coming years.

Sheikh said that that Pakistani and Ghana trade statistic as at 2021 was 43 million dollars while Pakistan exported goods worth 31 million dollars to Ghana.

It also imported goods from Ghana to the tune of 13 million dollars during the period of 2021.

 

“Pakistan’s main export to Ghana includes: textiles, pharmaceuticals, cements and rice, while Ghana’s main export to Pakistan includes: cashew nuts, cocoa and timber.

 

According to him, there is a potential to increase the trade volume between both countries in several areas.

“Agriculture, energy, mining and textiles. To increase the trade volume both countries can take steps in facilitating trades such as; reducing trade barriers, improving transportation infrastructure and simplify custom procedure.

Sheikh said: `’To increase the trade volume, both countries can take steps in facilitating trades such as; reducing trade barriers, improving transportation infrastructure and simplify custom procedure.

 

“Ghana and Pakistan can explore opportunity for joint ventures in partnership to expand trade and investment.

 

“The MoU between FPCCI and Ghana Chambers of Commerce is one of the most crucial steps in this regard.

 

“Agriculture is a vital step for both countries and there are opportunities for collaboration in this area.”

 

Sheikh said that Pakistan had the expertise in agriculture and can provide technical assistant to Ghana such as crop management and irrigation.

 

“Ghana on the other hand can offer opportunity for Pakistani business to invest in the production of crops such as cocoa and coffee,’’ he said.

 

Responding, Mr. Stephane Miezan, the Second Vice-President of Ghana National Chamber of Commerce and Industry, said the agreement was apt as Ghana was looking forward in strengthening relations with FPCCI.

 

He said that the agreement was in line with Ghana chamber of commerce’s core activities which include advocacy, capacity building and policy dialogue.

 

Others are business to business trade fair, business and trade information exchange and export documentation.

 

Miezan said: “As an organisation we have worked with the United Nation’s Economic Commission on Africa, African Union, USAID, African Growth and Opportunity Act, International Finance Cooperation and European Union.

 

“Ghana is the most stable country in West Africa and we’ve had eight elections in the past 32 years when it comes to political stability.”

 

According to him, Ghana is encouraging Pakistani organisations and companies to be established in Ghana.

 

Miezan added: “Therefore, investors from Pakistan are assured of their investment in Ghana. We have the 360 investment opportunities in Ghana.

 

“We have opportunities in agriculture and mainly in the rice production and to bring Pakistani technology in the milling process of our rice.

 

“There is also a huge market for cassava starch and we are also looking for technology to help us achieve that as well, rubber and palm oil processing is needed as well.” (NAN)(www.nannews.ng)

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Edited by Bashir Rabe Mani

 

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