Islamabad: On Wednesday, Pakistan and Egypt decided to work on increasing bilateral trade in various important sectors, including construction and building materials, engineering, agriculture, textiles, fertilisers and chemicals, and medical instruments, a news source reported. The Egyptian Commercial Service and Trade Development of Pakistan (TDAP) signed a Memorandum of Understanding (MoU) for this purpose during the first meeting of the Pakistan-Egypt Joint Working Group (JWG) in Islamabad.
The JWG on trade was formed during the Pakistan-Egypt trade conference in an attempt to improve trade ties and make use of untapped economic potential. Both countries agreed on frequent exchange of delegations, increased participation in each other’s international trade fairs and organising Single Country Exhibitions in Karachi and Cairo.
Business to business meetings between the businessmen of both countries were arranged. The Pakistan-Egypt Trade Conference that had been arranged by the Ministry of Commerce and Textile was also held around the same time. This was the first in a series of seminars planned under the ‘Look Africa Policy Initiative’, which will look for opportunities to enhance ties with six African countries. Previously, the Rawalpindi Chamber of Commerce and Industry (RCCI) had pointed out the great potential for promoting trade and export in Africa given the size of the population in the region.
