Saudi Arabia Interested to Enhance Imports from Pakistan

Islamabad—Saudi Arabian investors are interested in investment and joint ventures in various sectors of Pakistan’s economy. Steel manufacturing and food processing are potential areas for joint ventures between the two countries. These views were expressed by Ambassador of Saudi Arabia to Pakistan Abdullah bin Marzouk Al-Zahrani here on Monday. He was talking to a delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by its President Atif Ikram Sheikh who called on him to discuss ways and means for further enhancing bilateral trade between the two brotherly countries.

Sheikh Pervez Ahmed, Senior Vice President and Sheikh Abdul Waheed, Vice President Islamabad Chamber of Commerce and Industry, Iftikhar and Tanveer Afsar Malik were members of the delegation. The Saudi Envoy stressed that both countries should organize single country exhibitions and encourage frequent exchange of trade delegations to explore all untapped areas of mutual collaboration. Saudi Arabia considered Pakistan an important trading partner and wanted to further enhance import of many products from Pakistan. Pakistani entrepreneurs have tremendous opportunities to promote trade with Saudi Arabia by improving the quality of their products.

Al-Zahrani assured that the Embassy would facilitate Pakistani business community in their visits to explore for business opportunities. Atif Ikram Sheikh, Sheikh Pervez Ahmed and Sheikh Abdul Waheed said that Pakistan and Saudi Arabia enjoyed cordial relations that should be transformed into growing trade and economic relations. They said Pakistan was exporting few products to Saudi Arabia like textiles, rice, meat, fish, spices, food and vegetables while there was great scope to export more products including high quality medicines, cement, steel and many other industrial products to the Kingdom of Saudi Arabia.

They said lucrative opportunities for Saudi investors existed in many sectors of Pakistan’s economy including oil and gas, petroleum and petrochemicals, energy, textiles, banking and financial services, fertilizer, gems and jewellery, light engineering, furniture, food and fruit processing, packaging, livestock, dairy farming, fisheries, infrastructure development etc. They stressed that Saudi investors should be apprised of these prospects so that they could take full benefit of investment opportunities in Pakistan. They said Saudi Arabia has initiated some mega construction projects and it should explore importing cement, steel, marble and other construction related products from Pakistan. It was discussed that both countries should cooperate in training programmes to enhance export of skilled manpower from Pakistan to Saudi Arabia.

Source: Pakistan Observer, 08 March 2016