Pakistan, Egypt discuss strengthening trade ties with proposed MoU and business council

ISLAMABAD: Pakistan and Egypt have discussed ways to strengthen their bilateral trade ties, with a proposal to sign a Memorandum of Understanding (MoU) between Pakistan’s Ministry of Commerce and its Egyptian counterpart. The proposal also includes establishing an Egypt-Pakistan Business Council to focus on key sectors, including spices, pharmaceuticals, surgical instruments, and food products.

During a meeting between Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce, and the Ambassador of Egypt to Pakistan, both sides explored avenues to boost trade. The Egyptian Ambassador noted that despite representing a large share of the global Muslim population, trade volume between the two countries remains low. He emphasised the need for stronger trade relations and revealed that he had met with the chairmen of various chambers of commerce in Pakistan to identify potential collaboration opportunities.

To facilitate trade, the Ambassador proposed the establishment of a Preferential Trade Agreement (PTA) between Pakistan and Egypt, and suggested institutionalizing cooperation through an MoU between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and its Egyptian counterpart.

In response, the Coordinator assured full support from the Ministry of Commerce to help strengthen trade linkages between the two countries and create a favorable environment for exporters and investors. The meeting reaffirmed the commitment to enhancing bilateral trade.