Mali and Pakistan’s agricultural sectors are rich in wealth and skills. In the agriculture sector, both countries should work together and take advantage of each other’s experience.
Dit Yaya Doucoure, Ambassador of Mali Dianguina, shared these views while addressing the business community here on Thursday at the Lahore Chamber of Commerce & Industry.
The welcoming address was delivered by LCCI President Mian Tariq Misbah, while Senior Vice President Nasir Hameed Khan, members of the Executive Committee and Honorary Consul of Mali Rana Tahir Abbas also spoke at the gathering.
The Ambassador said Mali had vast agricultural land which could be leased to investors for 30 years.
He said that a legal structure was being placed in place in Mali to guarantee foreign investors a one-window service.
He said the exchange of trade delegations between the two countries could be the most efficient tool for improving trade and economic relations, and the position of Mali and Pakistan’s private sectors was crucial in this regard.
Speaking to Mali’s Ambassador, Mian Tariq Misbah, President of the Lahore Chamber of Commerce & Industry, said that new business partners in unconventional markets such as African countries would not only help improve Pakistan’s foreign trade, but would also help African businessmen and investors tap into the emerging economy’s enormous potential.
He said that, with a region of over 1,240,000 square kilometers, LCCI was well aware of the importance of Mali as the eighth-largest country in Africa.
He said that, as a good potential market for Pakistan’s exports, the Pakistani business community has always attached great importance to improving economic ties with the African region.
Mian Tariq Misbah said that an MOU should be drawn up by the Lahore Chamber of Commerce & Industry and the Mali Chamber of Commerce & Industry to improve trade and economic relations between the two nations.
The President of the LCCI said Pakistan had a wide range of goods for export and could easily cater to Mali’s needs.
He said the current trade volume between Pakistan and Mali was even smaller than $1 million, while Mali’s worldwide imports were in excess of $5 billion.
We can achieve rapid results if there is frequent contact between private sector representatives. This will help to share knowledge and to provide a better understanding of each other’s markets, he said.
He added that there was a huge opportunity for Mali to import from Pakistan textile products, leather goods, pharmaceuticals, rice, sports goods and light engineering equipment, etc.