In a bid to expand economic ties, Egypt’s Ambassador to Pakistan, Dr. Ihab Mohamed Abdelhamid Hassa, has proposed the establishment of a Preferential Trade Agreement (PTA) between Pakistan and Egypt. The suggestion was made during a meeting with Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce, held on Wednesday to explore avenues for boosting bilateral trade.
According to a press release, the Egyptian envoy expressed concern over the modest trade volume between the two nations, despite their sizable contribution to the global Muslim population. He stressed the urgency of deepening economic cooperation and revealed that he had already engaged with several heads of chambers of commerce across Pakistan to identify potential areas for collaboration.
To formalize this cooperation, Dr. Hassa recommended the signing of a Memorandum of Understanding (MoU) between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and its Egyptian counterpart. He also proposed the creation of an Egypt-Pakistan Business Council aimed at enhancing trade in key sectors such as spices, pharmaceuticals, surgical instruments, and food products.
Additionally, the ambassador urged the initiation of a MoU between the respective Ministries of Commerce of both countries.
In response, Rana Ihsaan Afzal Khan assured the ambassador that the Ministry of Commerce would provide full support to these initiatives, reaffirming Pakistan’s commitment to strengthening trade partnerships. The ministry also reiterated its focus on creating a favorable environment for exporters and investors involved in Pakistan-Egypt trade.
