LAHORE, Sept 20: Coordinator to the Federal Tax Ombudsman Saif Ur Rehman has said Pakistan has the potential to increase bilateral trade with African countries to $15 billion in the coming years by diversifying exports and exploring new markets.

Talking to a delegation of exporters here on Sunday, he said the current volume of trade between Pakistan and African countries remained significantly below its actual potential, requiring concerted efforts by the public and private sectors to bridge the gap.

He stressed the need for Pakistani exporters to identify emerging opportunities in African markets and increase exports of value-added products, particularly popular Pakistani snack products.

Saif Ur Rehman said Pakistan should formulate a comprehensive strategy to strengthen trade relations with African countries, with particular focus on promoting business-to-business contacts, improving market intelligence and increasing participation in international trade exhibitions.

He also called for simplification of trade procedures, improvement of logistics and resolution of genuine taxation and regulatory issues faced by exporters to enhance the competitiveness of Pakistani products in international markets.

He said increased trade with African countries would help Pakistan diversify its export destinations, boost foreign exchange earnings and create new business opportunities, particularly for small and medium-sized enterprises.