Pakistan, Hong Kong Chart New Course for Trade and Investment
September 14, 2026
Pakistan and African nations have launched the Pakistan-Africa Economic Council (PAEC) to strengthen economic and trade relations and increase bilateral trade to $15 billion by 2030. With annual trade currently standing at around $4 billion, the initiative aims to diversify economic ties, promote mutual investment, and tap into untapped resources and markets across both sides.
Seeking to turn diplomatic goodwill into economic gains, Pakistan and African countries have launched the Pakistan-Africa Economic Council (PAEC), opening a new front in Islamabad’s efforts to expand trade, attract investment and strengthen its economic footprint across the African continent.
The council was formally launched at a ceremony in Islamabad attended by ambassadors, high commissioners and consuls-general from several African countries, including Rwanda, Mauritius, Morocco, Zimbabwe, Sudan, Kenya and Ethiopia. The initiative aims to provide a dedicated platform for expanding economic engagement and supporting efforts to raise Pakistan-Africa bilateral trade to $15 billion by 2030.
Pakistan’s current annual trade with African countries stands at around $4 billion, leaving considerable room for expansion. The launch of the PAEC reflects Islamabad’s growing focus on African markets as it seeks to diversify its trade partnerships, attract investment and strengthen external economic linkages following years of economic challenges.
Speaking at the ceremony, Minister for Defence Production Muhammad Raza Hayat Harraj said the council would play an important role in strengthening economic and trade relations between Pakistan and African countries. Participants also stressed the need to move beyond existing commercial ties by tapping into untapped resources, expanding mutual investment and identifying new areas of cooperation.
Speakers highlighted several Pakistani sectors with significant potential for trade and investment in African markets, emphasizing that stronger commercial connections could create opportunities for both sides. The two sides also reaffirmed their commitment to making greater use of available economic opportunities and taking bilateral relations to a new level.
The initiative comes as Pakistan continues to pursue measures aimed at improving trade, connectivity and foreign investment while operating under a $7 billion International Monetary Fund programme. Against this backdrop, expanding economic partnerships beyond traditional markets has become increasingly important for Islamabad.
The PAEC also builds on the government’s broader Africa outreach. Last year, Prime Minister Shehbaz Sharif directed greater engagement with African countries, particularly in trade, investment and commercial relations.
With the new council, Pakistan is seeking to turn longstanding diplomatic relations with Africa into stronger economic partnerships, with the $15 billion trade target providing a clear benchmark for that ambition.
