ISLAMABAD, Pakistan: The volume of bilateral trade between Pakistan and Egypt stood at US$ 242.48 million in the Fiscal Year 2018-19, the Minister for Commerce and Textile told the National Assembly.
In a reply to a question in the House, the minister said that the trade relations between Pakistan and Egypt have been growing at a steady pace for the last five years.
However, he added, that the bilateral trade profile is not commensurate with the potential between the two Countries.
The minister told that Pakistan’s exports to Egypt amounted to US$ 90.56 million and imports US$ 151.92 million in the FY 2018-19.
The House was told that Pakistan’s top export products to Egypt include denim fabrics, medicaments and polythene etc while Pakistan’s top import products from Egypt include sanitary towels, reception apparatus and medical equipment like needles, catheters, and cannulas etc.
Furthermore, the minister told that that the Ministry of Commerce has launched “Look Africa Policy Initiative” to boost Pakistan’s exports to Africa including Egypt in the coming years.
Under Look Africa Policy, the Ministry of Commerce is opening Commercial Section in Cairo and five other Countries in Africa, the minister told adding that the Trade and Investment Officer will facilitate private sector to enhance bilateral trade engagements and export of Pakistan.
The minister further told that the Trade Development Authority of Pakistan (TDAP) has taken initiatives to invite reverse trade delegations to Pakistan by assessing the needs of the Egyptian market. This is done by inviting trade delegations from Egypt to EXPO Pakistan 2015 and 2016. The TDAP again plans to invite them again for EXPO Pakistan2020, he told.