National News

ISLAMABAD, (APP): 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 Marzouq 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.