Pakistan-Africa Economic Council launched to deepen trade and investment ties

Faiza Zafar Islamabad The Pakistan-Africa Economic Council (PAEC) was formally launched in Islamabad, marking a significant step towards strengthening Pakistan's economic, trade and investment engagement with the African continent. The launch event, hosted by Ambassador Hamid Asghar Khan, brought together diplomats, business leaders, parliamentarians, investors and representatives of the private sector. The PAEC describes its mission as connecting businesses, institutions, investors and policymakers to expand trade, investment and economic cooperation between Pakistan and African countries. The initiative comes as Pakistan seeks to make greater use of Africa's growing consumer and investment markets. According to reports ahead of the launch, the council will initially focus on East African markets, connecting Pakistani businesses and entrepreneurs with projects, investors and potential partners, before expanding its engagement across the continent. Ambassador Hamid Asghar Khan, who has been actively involved in Pakistan's Africa engagement, highlighted the vast potential for expanding economic relations with African countries. Pakistan's 'Engage Africa' policy has increasingly focused on strengthening diplomatic, commercial and people-to-people links with the continent. Among the prominent personalities associated with the PAEC initiative and Pakistan-Africa engagement are Dr Ahmed Ali Sirohey, Director General Africa Division at the Ministry of Foreign Affairs; Dr Shahbaz Ali Malik, Chairman PAEC; and Mohammad Tauseef Zaman, Secretary General PAEC. Previous PAEC engagements have brought together African ambassadors., diplomats, parliamentarians and leading members of Pakistan's business community. Member of Parliament Dr Mirza Ikhtiar Baig & Governor KPK, Faisal Karim Kundi was also reported among the distinguished participants at the PAEC launch. A key highlight of the launch ceremony was the signing of a Memorandum of Understanding (MoU) aimed at translating the Pakistan-Africa Economic Council's vision into practical economic cooperation. The agreement is expected to facilitate stronger business-to-business linkages, trade and investment opportunities, institutional collaboration and joint ventures between Pakistani and African stakeholders. The signing marked an important step towards creating structured partnerships and connecting businesses, investors and institutions with viable projects across African markets. PAEC has identified East Africa, particularly Rwanda, Ethiopia, Uganda, Kynea and Djibouti, as an initial focus for its international engagement. The council is expected to facilitate business-to-business linkages, investment partnerships, joint ventures, trade opportunities and project-based cooperation between Pakistani and African enterprises. Key areas of potential collaboration include agriculture, textiles, pharmaceuticals, information technology, manufacturing, renewable energy and other emerging sectors. Speakers and participants stressed the need to move beyond traditional diplomatic relations towards stronger commercial partnerships, improved market access and greater private-sector engagement. The initiative also seeks to provide Pakistani businesses with better information about opportunities in African markets and help African investors and companies identify potential partners in Pakistan. The launch comes against the backdrop of Pakistan's longstanding diplomatic relationship with African countries. Pakistan has historically supported African countries in their independence struggles and has maintained extensive engagement through diplomacy, UN peacekeeping and economic cooperation. The Ministry of Foreign Affairs has previously emphasised that Africa's economic potential and the African Continental Free Trade Area (AfCFTA) create significant opportunities for Pakistan. The PAEC's launch, therefore, represents an effort to translate Pakistan's diplomatic outreach to Africa into practical trade, investment and business partnerships, potentially opening new markets for Pakistani exporters while attracting African investment and collaboration into Pakistan.