Bilateral Trade Potential Between Pakistan and North African Countries
Abstract
North Africa is an economically prosperous region of Africa. It is considered to be one of the wealthiest regions of the African continent both due to its natural resources and closeness to the European market and its proximity to international trade routes. Although, Pakistan has been regularly interacting with African countries on a broad range of regional and global challenges, yet a vast potential of mutual trade remains mostly untapped. Particularly the bilateral trade and economic potential on both sides has not been fully explored. The level of trade and economic cooperation is far below the potential. The diverse economies of North African countries and Pakistan with particular strengths in textile, agriculture, services, infrastructure development, manufacturing, pharmaceuticals, defense equipment and tourism provide promising prospects for cooperation and its expansion can boost the economic growth on each side. Given the economic and growing strategic significance of North African countries, this study aims to explore Bilateral Trade Potential between Pakistan and North African Countries. Secondary data for this study was gathered from reliable sources such as government reports, academic journals and international trade databases including trade volumes and economic indicators for both North African countries and Pakistan. Descriptive and analytical approach was used to identify barriers, patterns and potential trade areas between Pakistan and North African Countries. The study conclude that it is the era of geo-economics and Pakistan must synchronize with evolving international trends. The current level of trade and economic cooperation is far below the potential and lacks the requisite vigor. Pakistan and the North African region must take full advantage of economic trade, and economic potential on both sides. Therefore, it is suggested to strengthen institutional frameworks by reducing tariffs, simplifying customs procedures, and harmonizing regulatory frameworks which can create a favorable environment for long-term trade and cooperation.
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