Pakistan seeks stronger business ties to boost trade

DAR ES SALAAM: PAKISTAN has called for stronger business-to-business engagement with Tanzania, as deeper commercial relations could unlock more trade and investment opportunities between the two countries.

Pakistan’s Chargé d’Affaires in Tanzania, Muhammad Azeem Khan, urged greater participation in trade fairs and business forums to help entrepreneurs identify opportunities, form partnerships and establish joint ventures.

He made the remarks in Dar es Salaam over the weekend during Pakistan’s 79th Independence Day celebrations, highlighting growing economic ties between the two countries.

Mr Khan said bilateral trade had risen from 224 million US dollars in the 2021/22 financial year to 370 million US dollars, attributing the increase to greater interaction between the two business communities and expanding commercial opportunities.

“Business exhibitions and trade forums are very important because they bring entrepreneurs from both countries together, allowing them to exchange ideas, identify opportunities and establish partnerships,” he said.

He said several Tanzanian businesspeople had recently travelled to Pakistan to explore opportunities in healthcare, pharmaceuticals, manufacturing and food processing. Pakistani investors, he added, were being encouraged to explore Tanzania’s expanding market, particularly in agriculture, manufacturing, food processing and other valueaddition industries.

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Despite the growth in trade, Mr Khan said the current level remained below its potential and called for greater direct engagement between businesses. He also encouraged Tanzanian companies to explore Pakistan’s market, particularly for agricultural products such as coffee.

“We should also look at establishing joint processing ventures that can benefit both countries,” he said.

He said stronger commercial partnerships could boost trade while creating opportunities for investment, technology transfer and industrial development.

Mr Khan also announced that 18 Pakistani companies are expected to participate in the forthcoming MedExpo exhibition in Tanzania, which he described as an important platform for businesses to showcase products, explore investments and build partnerships.

He said stronger privatesector engagement could help take Tanzania-Pakistan economic relations to a new level.