KARACHI: Pakistan's seafood industry has the potential to significantly increase its export value to $2 billion, according to Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF) and Chairman of the National Business Group Pakistan. Despite a coastline extending 1,000 kilometers, the country's share in the global seafood export market remains at a modest 0.29 percent. Hussain emphasized the need for modern technology and value addition to unlock this potential.
According to Pakistan Businessmen and Intellectuals Forum, seafood exports stood at $568 million last fiscal year, marking a 38 percent increase over two years. China is the largest market for Pakistani seafood, accounting for 59 percent of exports. Despite this growth, Hussain noted that Pakistan's position in the global seafood market is limited, ranking 34th worldwide with a stagnant share in aquatic food production. The country's annual average production growth rate from 2014 to 2024 was 1.1 percent, lagging behind other countries such as India and Vietnam.
Hussain pointed to several barriers hindering Pakistan's access to the global seafood market, including insufficient traceability and certification systems, lack of boat registration, and inadequate enforcement of food safety standards. He also highlighted issues like declining fish stocks, overfishing, and ineffective quota management. Infrastructure challenges, such as inadequate fishing harbors and cold storage facilities, further restrict the sector's export potential.
To address these challenges, Hussain called for a reimagining of the fisheries and aquaculture sector as a modern, export-oriented blue economy. He stressed the importance of federal and provincial coordination, modern certification regimes, sustainable management practices, and improved access to financing. Hussain advocated for a shift from raw fish exports to processed and value-added products to expand market access and tap into new opportunities globally. The FPCCI stands ready to support the government with policy proposals to drive investment and enhance seafood exports.