Karachi, August 26, 2024 – The Honorary Consul General of the Republic of Malawi, Abdullah Zaki, has encouraged the members of the Karachi Chamber of Commerce and Industry (KCCI) to diversify their exports to Malawi.
He emphasized the importance of focusing on non-traditional items that are in high demand, which could help improve the current modest trade volume between Pakistan and Malawi and potentially make the trade balance more favorable for Pakistan.
During a meeting at the KCCI, Abdullah Zaki highlighted that the Malawian market is largely dominated by Bangladesh and India, which supply a variety of traditional and non-traditional items. In contrast, Pakistan primarily exports fabrics, chemicals, and pharmaceuticals to Malawi. “There is a significant need to explore the possibility of exporting non-traditional items as well,” Zaki stated.
The meeting was attended by several key figures, including KCCI President Iftikhar Ahmed Sheikh, Vice President Tanveer Ahmed Barry, Chairman of the Diplomatic Missions & Embassies Liaison Subcommittee Farooq Afzal, former KCCI Presidents Iftikhar Ahmed Vohra, Muffasar Atta Malik, Shamim Ahmed Firpo, Agha Shahab Ahmed Khan, and Muhammad Idrees, along with many prominent members of the business community.
Abdullah Zaki further noted that although the balance of trade currently favors Malawi and the overall trade volume remains limited to just USD 8.9 million, there is substantial potential for improvement. “Malawi, as an import-based economy with a population of 25 million, presents numerous opportunities due to the high demand for Pakistani products,” he explained. He urged Pakistani exporters to focus on supplying non-traditional items, as done by Bangladesh and India. “Malawi requires a wide range of items that can easily be supplied by Karachi’s business community,” he added.
To facilitate this expansion, Zaki assured that the Honorary Consulate General’s Office of Malawi in Karachi is ready to provide full support to businessmen and traders interested in entering the Malawian market and other African countries via Malawi, which he described as having a stable law-and-order situation.
He also announced that a Malawian delegation is expected to visit Pakistan in January next year. In return, KCCI could send a trade delegation to Malawi in April, which will be fully facilitated by the Honorary Consulate of Malawi.
Earlier, KCCI President Iftikhar Ahmed Sheikh welcomed Abdullah Zaki and congratulated him on his appointment as Honorary Consul General of Malawi. He emphasized that this appointment is a source of pride for the Karachi Chamber and is expected to significantly enhance the trade volume between the two countries. “Given Abdullah Zaki’s excellent business experience and close liaison with the business community, the Pakistan-Malawi trade volume is likely to improve in the coming years,” Sheikh remarked.
He acknowledged that while Pakistan’s trade ties with several African countries have been gradually improving, the trade volume with Malawi remains very low and skewed in favor of Malawi. He stressed the need for special attention and concerted efforts to balance the trade dynamics. Sheikh urged the Malawian Envoy to identify potential products that could be exported to and imported from Malawi by Karachi’s business community, which would help boost the currently low bilateral trade.
“There is enormous potential for enhancing bilateral trade and investment in various sectors, including textiles, apparel, mining, tourism, hospitality, construction, and agriculture,” Sheikh pointed out. He also noted that Malawi is a significant producer of tea in Africa and also produces coffee, sugar, and cotton, among other products. “These products could be supplied to Pakistan by the Malawian business community,” he suggested. Furthermore, with Pakistan’s IT sector witnessing impressive growth in recent years, the IT services and expertise available in Pakistan could also be offered to Malawi.
Highlighting the need for collective efforts to improve trade and strengthen ties between KCCI and the Malawian Honorary Consulate in Karachi, Sheikh expressed optimism that trade between Pakistan and Malawi would substantially improve in the near future. He also advised the Malawian Consul General to arrange a visit by a trade delegation of exporters and importers from KCCI, which would undoubtedly help in enhancing trade by fostering closer ties between the business communities of both countries.
