Karachi: Irfan Iqbal Sheikh President FPCCI highlighted 25-country trade alliance of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI). It is collectively huge market for Pakistani exports be it trade in goods, export of services or export of human resources.

Speaking at 36th CACCI Conference in Melbourne, Australia he said enormity of export potential lies in fact that one billion people are in workforce of these 25 countries and have very vibrant middle-class which is true engine of consumption through their purchasing power. Newly-elected President of CACCI Peter McMullin who is also former President of Victorian Chamber of Commerce and Industry Australia was also present.

Irfan said that he is hopeful to exchange bilateral and multilateral trade delegations with CACCI member states in near future as Pakistan will able to play more proactive role since Khurram Tariq Sayeed who is former VP FPCCI has been elected Vice President of CACCI.  He explained that trade is most vital missing component of Pakistan’s GDP growth as 30 percent of world’s GDP is based on trade and, it takes all more importance in our peculiar case as we import more than double what we export.  

Sheikh named four factors of utmost importance to reign-in inflation and current account deficit- industrialisation, import substitution, incentivising exports and stabilising rupee value. 

Published in The Daily National Courier, December, 08 2022

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