ICCI calls for expansion of Pak-Saudi Arabia bilateral trade

  • July 24, 2015
A delegation of Islamabad Chamber of Commerce and Industry led by its President Mr. Muzzamil Hussain Sabri called on Mr. Muhammad Jasim Al-Khalidi, Acting Ambassador of Saudi Arabia and discussed ways & means for further enhancing bilateral trade between Pakistan and Saudi Arabia. Mr. Muhammad Shakeel Munir, Senior Vice President ICCI, Mr. Ishtiaq Qureshi and Mr. Amin ur Rehman were also in delegation. 
Muzzamil Sabri said that Pakistan and Saudi Arabia enjoyed historically cordial relations that should be transformed into thriving trade and economic relations between the two countries. He said Pakistan was exporting few products to Saudi Arabia including textiles, rice, meat, fish, spices, food and vegetables while there was great scope for exporting more products like high quality medicines, cement and other industrial products to the Kingdom of Saudi Arabia.
He said there were lucrative opportunities for Saudi investors in many sectors of Pakistan’s economy including oil & gas, petroleum & petrochemicals, power (coal, hydel, gas based), textiles, banking & financial services, fertilizer industries, gems & jewellery, light engineering, furniture, food & fruit processing, packaging, livestock, dairy farming, fisheries, infrastructure development etc. He stressed there was a need to motivate Saud investors to visit Pakistan to take full advantage of countless investment opportunities.
Muhammad Shakeel Munir, Senior Vice President, Islamabad Chamber of Commerce and Industry said that Saudi Arabia had initiated some mega construction projects and it should explore importing marble products from Pakistan that were known for quality and variety. Ishtiaq Qureshi and Amin ur Rehman said both countries should cooperate in training programs that will help in enhancing export of manpower from Pakistan to Saudi Arabia.
Speaking at the occasion, Mr. Muhammad Jasim Al-Khalidi, Acting Ambassador of Saudi Arabia said that Saudi Arabia considered Pakistan an important trading partner and wanted to further enhance trade and economic relations with it. He said many Saudi investors were interested to invest in various sectors in Pakistan and stressed that both countries should organize single country exhibitions and facilitate frequent exchange of trade delegations to explore all untapped areas of mutual collaboration. 
He said a new Saudi Ambassador will come to Pakistan soon to facilitate further strengthening of bilateral relations and stressed that ICCI should form a delegation for Saudi Arabia to identify news avenues of cooperation between the two countries. He assured that Saudi Embassy would play its role for spreading the information and awareness about the opportunities that existed between the two countries for profitable investment.