Lahore: A delegation from the Export-Import Bank of Pakistan (Pak EXIM), The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the Export Development Fund (EDF) visited the Lahore Chamber of Commerce & Industry (LCCI) to announce a Reinsurance Agreement aimed at supporting Pakistan’s export sector. The collaboration seeks to bolster export growth through enhanced access to risk-mitigation solutions.
According to Press Information Department, the delegation, led by Shahbaz Hussain Syed, President & CEO of Pak EXIM, and Dr. Khalid Khalafalla, CEO of ICIEC, highlighted the significance of the Reinsurance Agreement between ICIEC and Pak EXIM, alongside a PKR ~3 billion SME Risk Pool agreement with EDF. The agreements are expected to provide local exporters, including small and medium enterprises, with improved access to risk-mitigation tools and export support services.
Lahore’s diverse industrial base, encompassing sectors such as textiles, pharmaceuticals, and engineering, positions the city as a critical hub for engaging with Pakistan’s export-oriented business community. The visit underscored the importance of collaboration with the private sector in enhancing the country’s international competitiveness.
Mr. Shahbaz Hussain Syed emphasized the role of sustained engagement with LCCI and the private sector in strengthening Pakistan’s export ecosystem. He noted that collaboration with Lahore’s business community would facilitate greater awareness and access to Pak EXIM’s risk-mitigating products and services.
Dr. Khalid Khalafalla expressed ICIEC’s commitment to expanding credit and political risk insurance solutions for Pakistani exporters. He highlighted the Reinsurance Agreement’s role in reinforcing the risk-mitigation capacity of Pakistan’s export sector and expressed optimism about the partnership’s future growth.
Faheem Ur Rehman Saigol, President of LCCI, welcomed the delegation and reinforced LCCI’s commitment to diversifying export markets and facilitating members’ access to international opportunities. He emphasized the need to enhance and diversify exports in light of Pakistan’s significant import levels.
The engagement reflects a shared commitment to strengthening Pakistan’s export capacity and promoting sustainable export-led economic growth.