ISLAMABAD:
Observing that the current trade volume falls short of expectations, Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz said that Pakistan aims to lift bilateral trade with Saudi Arabia upto $20 billion.
Addressing the Pakistan-Saudi Business Forum in Riyadh on Thursday, the minister said that legislation would be enacted to promote bilateral investment between the two countries, according to a press statement issued by the commerce ministry.
Ejaz also met with the Saudi Minister of Commerce, Dr Majid bin Abdullah Al-Kassabi. The meeting focused on enhancing investment in sectors such as construction, digital economy, and infrastructure between Pakistan and Saudi Arabia. The Pakistani commerce minister mentioned that a Free Trade Agreement between Pakistan and Gulf countries has been ratified.
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Speaking at the forum, Chairman of the Saudi Business Forum Hassan Al Hazawi stated that bilateral trade between Pakistan and the kingdom increased by 35%.
On another occasion, SAPM Jawad Sohrab Malik signed an agreement with NESMA & Partners for the export of skilled Pakistani labour to Saudi Arabia. The agreement was signed at the Pakistan Embassy in Riyadh between the Pakistan Overseas Employment Corporation (POEC) and NESMA&P, said a statment received on Thursday.
The agreement is expected to create significant job opportunities for Pakistani workers in Saudi Arabia. It will also help to strengthen the economic ties between the two countries. APP
Published in The Express Tribune, February 23rd, 2024.
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1: https://tribune.com.pk/story/2457321/pakistan-eyes-20b-in-trade-with-saudi-arabia
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