FPCCI briefs Pakistan’s Foreign Service on strategies to boost economic growth, focusing on exports and trade diplomacy.
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Karachi – A delegation from Pakistan’s Foreign Service (FSP) recently visited the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) head office in Karachi to gain an in-depth understanding of Pakistan’s economic landscape. Atif Ikram Sheikh, President of FPCCI, led the session, briefing the diplomats on key economic challenges, trade promotion strategies, and the importance of strong international branding for Pakistan’s export offerings.
During his address, Mr. Sheikh highlighted FPCCI’s recommendations for bolstering Pakistan’s trade position. He emphasized prioritizing sectors like IT and IT-enabled services, value-added agricultural products, processed foods, and the blue economy. Additionally, he pointed to infrastructure, processed minerals, and skilled workforce exports as critical areas to drive Pakistan’s economic growth.
“Our goal is to enhance Pakistan’s image and value in the global market, focusing on sectors that can attract sustainable foreign investments,” said Mr. Sheikh, adding that effective trade diplomacy could substantially improve Pakistan’s economic health.
Senior Vice President (SVP) of FPCCI, Saquib Fayyaz Magoon, urged Pakistan’s diplomats to serve as “salespeople” for the country, promoting Pakistan as a robust and diverse brand in international export markets. He presented FPCCI’s Vision 2030, which aims to achieve $100 billion in exports, calling for support from Pakistani embassies and consulates worldwide to host single-country, regional, and global trade exhibitions.
Mr. Magoon also discussed the FPCCI Excellence Awards, which recently recognized the top 20 Pakistani brands from various industries. “These brands embody the best of Pakistan’s industry and should be championed internationally,” he noted. He added that FPCCI aims to continue identifying top performers in other sectors to spotlight Pakistan’s industrial excellence.
Vice President of FPCCI, Mr. Aman Paracha, raised key challenges to doing business in Pakistan, including high interest rates, costly electricity, and fluctuating gas prices. He pointed out that the high interest rate, currently at 17.5%, restricts access to finance, making it tough for businesses to grow. He also noted that lowering energy costs and improving law and order could boost investor confidence significantly.
From the FSP side, Programme Director Mr. Arslan Meer emphasized that their visit aimed to gain a practical understanding of Pakistan’s economic issues and explore new avenues for foreign cooperation. “We want to equip our foreign service officers with real-world insights to better represent Pakistan’s economic potential,” he said.
The briefing session, an essential bridge between Pakistan’s business community and its international representatives, provided both parties with fresh insights and underscored the critical role of trade diplomacy in fostering Pakistan’s economic growth.
Rehan Hyder is a senior journalist, digital media expert, and experienced trainer in media and communications.