A delegation of Islamabad Chamber of Commerce and Industry led by its President Atif Ikram Sheikh called on H.E. Mr. Abdullah Marzouq Al-Zahrani, Ambassador of Royal Embassy of Saudi Arabia to discuss ways & means for further enhancing bilateral trade between Pakistan and Saudi Arabia. Sheikh Pervez Ahmed, Senior Vice President and Sheikh Abdul Waheed, Vice President Islamabad Chamber of Commerce and Industry, Iftikhar and Tanveer Afsar Malik were also in delegation. 

 

Speaking at the occasion, H.E. Mr. Abdullah Marzouq Al-Zahrani, Ambassador of Saudi Arabia said that his country considered Pakistan an important trading partner and wanted to further enhance import of many products from Pakistan. He said Pakistani entrepreneurs have tremendous opportunities to promote trade with Saudi Arabia by improving the quality of their products. 

 

He said Saudi investors were interested in investment and joint ventures in various sectors of Pakistan’s economy. He identified steel manufacturing and food processing as potential areas for joint ventures between the two countries. He stressed that both countries should organize single country exhibitions and encourage frequent exchange of trade delegations to explore all untapped areas of mutual collaboration. He assured that his Embassy would facilitate Pakistani business community in visiting to explore for business opportunities.

 

Atif Ikram Sheikh President, Sheikh Pervez Ahmed Senior Vice President and Sheikh Abdul Waheed Vice President, Islamabad Chamber of Commerce and Industry 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 & gas, petroleum & petrochemicals, energy, textiles, banking & financial services, fertilizer, gems & jewellery, light engineering, furniture, food & fruit processing, packaging, livestock, dairy farming, fisheries, infrastructure development etc. They stressed that Saud 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 programs to enhance export of skilled manpower from Pakistan to Saudi Arabia.