ISLAMABAD: Key economic constraints hinder Pakistan’s journey to becoming a brand-oriented country.
“Persistent issues such as fiscal deficits, inflation and underinvestment in critical industries have limited the country’s ability to nurture and promote brands at the global level,” says Faisal Rashid Awan, head of International Marketing Division at the Trade Development Authority of Pakistan.
Speaking to WealthPK, he said: “If we want to promote the ‘Made in Pakistan’ brand, then we must have a strategy for investing in branding.” However, he acknowledged that developing a brand required substantial investments in packaging, design and advertising.
He underscored the need for Pakistan to focus on a multi-faceted approach incorporating quality enhancement, innovation, marketing, export incentives, market research and industry collaboration, to boost its exports, which will contribute to overall economic growth.
“Collaboration between the government and private sector is crucial. Policymakers should focus on creating an enabling environment by reducing bureaucratic red tape, providing incentives for entrepreneurship, and promoting exports of Pakistani products and services,” he suggested.
Rashid Awan said that TDAP was also helping improve market access by advising the government on trade diplomacy and promoting Pakistan’s business image in key export markets.
“Pakistan is famous worldwide as a manufacturer of surgical instruments, leather garments, cutlery, sports goods, cotton, etc. Most of the world’s famous branding companies outsource Pakistan’s manufacturing units for the production of their brand materials,” he said.
“Because we are not able to produce innovative products according to our true potential, we sell raw material and raw goods to companies across the world, who then further process, stamp and market them, such as footballs made in Sialkot,” he said.
Rashid Awan said that most growth would be in the emerging markets over the next few decades. “Asia has emerged as a new continent of growth. India and China are expected to contribute a fifth of the increase in global consumer demand over the next decade.”
“India has invested great resources into the development of marketing and branding activities to improve the world’s perception of it. In this context, it will be disastrous for Pakistan if it fails to develop marketing and branding,” he warned.
The United States was the world’s most valuable nation brand in 2023 with a value of $30.3 trillion. China secured the second position in the ranking with a brand value of approximately $23.1 trillion. Germany’s brand value amounted to $5.1 trillion, according to WealthPK Research.
The Ministry of Planning and Development states in the Pakistan Vision 2025: “It is our ultimate desire and objective to see Pakistan among the 10 largest economies of the world by 2047, the centennial year of our independence. To make Pakistan a brand nation and the next Asian tiger are the foundational elements of the vision.” –INP
