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Dr Frank Alafaci

Official Launch of EKONOMOS, Issue No. 4 at 2023 ABSC Inc. Annual Gala Dinner

The Australian Business Summit Council Inc. launched the fourth issue of EKONOMOS, the Council’s business affairs magazine during the ABSC Inc. Annual Gala Dinner (three course banquet with beverages and entertainment) at the five-star reception centre, Le Montage, in Lilyfield, New South Wales on 4th May 2023.

Inside the premium venue’s Deanah View room, two hundred diplomats, business leaders, and government representatives gathered to celebrate the achievements of this elite management consultant forum for the promotion of Australian business, trade and investment.

ABSC Inc. President Dr Frank Alafaci highlighted the Council’s tireless efforts to enhance Australian entrepreneurship by facilitating bona fide economic relationships both Down Under and on the international stage in its extensive role as a strong platform and intellectual mouthpiece for informed debates and discussions to provide effective business policies and practices that stimulate a vibrant, sustainable, and competitive economy where Australian businesses are able to expand, seek out new, unprecedented opportunities and, of course, improve their stature and long-term profitability.

Besides the ABSC Inc. president, no less than three eminent, high-profile keynote speakers, H.E. Ms Wassane Zailachi, the Ambassador of Morocco, followed by the High Commissioner of Pakistan H.E. Mr Zahid Hafeez Chaudhri and the federal Assistant Minister for Climate Change and Energy, Senator Ms Hollie Hughes addressed the audience on the need for Australia to diversify into high-value added, innovative and technologically advanced sectors and embrace unprecedented business, trade and investment opportunities in emerging markets to bolster our national economic growth performance.

EKONOMOS, Issue No. 4, 2023 was launched with great acclamation at this significant annual function, benefiting from article contributions by seventeen diplomatic officials, academics and business people, spearheaded by the ABSC Inc. president Dr Frank Alafaci who penned a must-read article about the traumas of a depressed economy, and the CEOs of the Weringa Group, Mr Piers Morgan and Real Investment Analytics, Dr Anthony De Francesco with their detailed accounts focusing on Australian business, trade and investment matters, as well as poignant appraisals examining the prospects for increased bilateral economic relations between Australia and the countries represented by H.E. Mr Paolo Crudele, the Ambassador of Italy; H.E. Ms Alicia Moral Revilla, the Ambassador of Spain; H.E. Mr Mauricio Carvalho Lyrio, the Ambassador of Brazil; H.E. Mr Maximo Gowland, the Ambassador of Argentina; H.E. Mrs Ithzel Patino de Villareal, the Ambassador of Panama; H.E. Ms Wassane Zailachi, the Ambassador of Morocco; H.E. Dr Ali Kraishan, the Ambassador of Jordan; H.E. Mr Zahid Hafeez Chaudhri, the High Commissioner of Pakistan; Ms Agata Utnicka, the Charge’ d’Affaires ad interim of the Embassy of Poland; Ms Diana Carvajal Toscano, the Charge’ d’Affaires ad interim of the Embassy of Colombia; Mr Hasan Gencturk, the president of MUSIAD Sydney (the peak Turkish Industrialists and Entrepreneurs Association); and academic contributions by Dr Angus Hooke, former professor at the University of Nottingham, Ningbo, China, delineating the future rise of Africa as an economic powerhouse; Dr Rateb Jneid, president of the Australian Federation of Islamic Councils, providing an analysis of how being culturally intelligent is smart business; and Dr Jaehu Shim, visiting professor at the Korea Advanced Institute of Science and Technology, discussing No-code development for Start-ups and established companies.


Transcript Speech of the H.E. Zahid Hafeez Chaudhri, High Commissioner for Pakistan

Dr Frank Alafaci, Heads of Diplomatic Missions, Parliamentralins, Members of the Australian Business Community, Ladies and Gentlemen

Assalam u Alaikum and a Very Good Evening,

It is an absolute pleasure for me to be among this august gathering and talk about Pakistan and the opportunities it offered for trade and investment.

But let me begin by acknowledging the traditional custodians of the land on which we meet and pay my respects to their elders past present and emerging.

Ladies and Gentlemen

Pakistan is a country of 235 million people, making us the 5th most populous country in the world.

It is strategically located to become Asia’s premier trade, energy, and transport corridor.

It is the gateway to the energy rich Central Asian States, the financially liquid Gulf States and the economically advanced Far Eastern countries.

In terms of natural resources, we have the 2nd largest salt reserves, 3rd largest copper reserves, 5th largest coal and 5th largest gold reserves in the world.

We are the 4th largest producer of cotton, 4th largest producer of milk, 8th largest producer of wheat and 9th largest producer of meat.

But our greatest resource, Ladies and Gentlemen, is our human resource.

We have a young population, 55% of whom are below the age of 19. Our median age is only 22 years, making our population one of the youngest in the world.

A large number of our workforce is proficient in English. In fact, we have the 4th largest English speaking population in the world.

We have more than 200 universities producing a large pool of trained doctors, engineers, bankers, lawyers, IT and other professionals.

We produce more than 20,000 IT Graduates and Engineers each year.

We have the 5th largest number of medical schools in the world. Our 114 medical schools train around 20,000 quality doctors and dentists each year.

We have one of the most dynamic IT sectors.

We have established 13 Software Technology Parks and have more than 2000 IT companies in Pakistan and the number is growing every year.

We have more than 300,000 qualified IT professionals and tens of thousands are added to the pool each year.

Our IT companies are setting up offices in the US, Europe, Middle East and Australia.

Our IT exports are growing and have more than doubled during the past three years.

We also have a booming start-up eco-system, particularly the e-commerce and fintech.

With a young, English speaking, tech savvy population and growing middle class, we have all the ingredients of a thriving start-up ecosystem.

In fact, in absolute terms, we have the fourth largest growing middle class.

The venture capitalists from around the world, including the United States, Singapore, UK and Dubai are all looking at Pakistan with great interest.

We have a strong textile sector. Pakistan is one of the few countries to have a fully integrated textile sector. We grow our own cotton, make our own fibre, weave our own fabric and manufacture our own garments and other textile made-ups.

All major global brands have their manufacturing in Pakistan.

We also have an advanced sports goods industry. Pakistan is known as the football factory of the world, manufacturing more than 70% of the footballs used in the world.

Al Rihla ball, used in the Qatar World Cup, Telstar 18 used in the Moscow World Cup and Brazuca used in the Brazil World Cups were all made in Pakistan.

We have a strong pharmaceutical sector, exporting quality medicines to many countries.

Our surgical instruments are used in operation theatres and dentist practices all over the world.

Pakistan offers immense opportunities in its renewable energy and environmental sectors.

As per the wind and solar energy resource assessment, we have the potential of more than 50,000 MW of wind and 100,000 MW of solar energy.

A large part of this immense potential is yet to be tapped.

We aim to replace 30% of our vehicles with electric vehicles, and have 60% of our power generation coming from clean sources by 2030.

We have huge mining and oil and gas exploration potential.

We offer one of the most attractive investment regimes in the world

All sectors of our economy are open for private investment.

Our national treatment allows the foreign investors to invest in all those sectors where they can invest without the requirement of a local partner.

To promote investment, we have also developed Special Economic Zones with liberal incentives, world class infrastructure and unmatched investor facilitation services.

H.E. Zahid Hafeez Chaudhri

I also invite you to explore Pakistan’s tourism potential.

We have sea, we have mountains, we have deserts.

We have the largest number of glaciers anywhere in the world outside of Antarctica. We are home to 108 peaks above 7000 meters.

We are blessed with all four seasons.

I feel happy to share that in 2018, the British Backpacker Society declared Pakistan the world’s top adventure travel destination.

Pakistan is open for trade, for investment, and for tourism.

I thank you and wish you an enjoyable evening.

Host of the evening Dr Frank Alafaci speaking at Gala Dinner 2023

ABSC Inc. President Dr Frank Alafaci and H.E. Zahid Hafeez Chaudhri

Dr Sabina Zahid,HC Zahid Hafeez Chaudhri,Yuksel Cifci,Syed Zafar Hussain and Hasan Gencturk

High Commissioner Zahid Hafeez Chaudhri speaking at dinner of Australian Business Summit Council Inc.

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