The Kingdom and Pakistan are a promising future for trade and investment partnership, the Saudi Press Agency


Riyadh, Ramadan 25, 1442 AH, corresponding to May 07, 2021 AD, SPA
The Chairman of the Council of Saudi Chambers, Ajlan bin Abdulaziz Al-Ajlan, praised the depth of relations between the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan, and the continuous development they are witnessing at all levels.
Al-Ajlan said in a statement to the Saudi Press Agency: “The visit of the Prime Minister of the Islamic Republic of Pakistan, Imran Khan, to the Kingdom, and before that, the visit of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, to Pakistan in 2019 AD reflects the strength of political will in Strengthening relations between the two countries and bringing them to advanced levels of strategic partnership at all levels, especially the economic ones. “
He stressed the existence of promising prospects and opportunities for economic cooperation between the Kingdom and Pakistan in light of Vision 2030, and the programs and initiatives it contains to attract foreign investments, diversify the economy and enhance business partnerships with international partners, as well as the investment opportunities available in Pakistan and the facilities and incentives it provides to foreign and Saudi investors in particular. And the economic reform plans it adopts, including the privatization of many economic sectors.
And he indicated that the economic relations between the two countries are based on a solid base of institutional frameworks represented in economic and commercial cooperation agreements, the joint Saudi-Pakistani committee, the Saudi-Pakistani Coordination Council in addition to the joint Saudi-Pakistani Business Council, all of which represent important tools for developing areas and opportunities for cooperation between the two countries at various levels. He explained that despite the steady development in the volume of trade exchange between the Kingdom and Pakistan, which reached about 11.3 billion riyals in 2019 AD, it is still below the level of ambitions and does not reflect the size of the opportunities and capabilities of the economies of the two countries.
Al-Ajlan suggested to develop trade and investment relations, focusing on exploiting the comparative advantages and priority sectors in both countries, including trade, industry, agriculture, tourism, renewable energy, technology and real estate, and taking advantage of the large size of the Pakistani market and its distinctive geographical location that provides access to many Asian markets to enable Saudi exports other than In addition to intensifying meetings between business owners, addressing the obstacles that limit trade and investment between the two countries, providing information on markets and commercial opportunities, and holding exhibitions for Saudi and Pakistani products and joint industrial projects that contribute to raising the volume of exports and meeting the market needs.
In conclusion of his statement, Al-Ajlan affirmed the interest of the Saudi business sector in the visit of the Prime Minister of Pakistan to the Kingdom and his aspiration for its results in pushing cooperation relations between the two countries and the strong desire to learn about the economic fundamentals in Pakistan and the investment opportunities in it and encourage them in the Council of Chambers to direct Saudi companies to invest there, stressing the need to undertake the Saudi and Pakistani business sectors He played an active role in promoting trade exchanges between the two countries, pointing out the recent formation of the Saudi-Pakistani Business Council, which constitutes an effective tool in developing trade and investment relations and in introducing investment opportunities in both countries, expressing the Council’s readiness to provide all forms of support and support for efforts to develop economic relations between the Kingdom and Pakistan. .
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23:37 CE


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