Home / World / KSA Keen to Deepen Trade Ties with Pakistan: Diplomat
KSA to deepen ties with Pakistan says Diplomat

KSA Keen to Deepen Trade Ties with Pakistan: Diplomat

RIYADH – Kingdom of Saudi Arabia’s (KSA) Ambassador to Pakistan, Nawaf Saeed Al-Malkiy, said Saudi Arabia is keen to deepen and strengthen its trade relationship with Pakistan, as the two countries have great potential to promote bilateral trade in many areas.
The Ambassador said this while addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI). Muhammad Ahmed Asiri, commercial attaché of the Saudi embassy, was also present on the occasion.
The Ambassador said Pakistan has everything for growth and has excellent potential for business and economic development, which needs to be harnessed more effectively to attract foreign investors.
He said Pakistan is a critical country for the whole Muslim Ummah as it is a nuclear power and Saudi Arabia will support it in all crucial situations.
The Saudi envoy said Pakistan has great tourism potential and needs to improve its infrastructure to attract foreign tourists. He said policy coherence and an enabling environment would further promote local and foreign investment in Pakistan. He said that Crown Prince Mohammed Bin Salman had announced his intention to become Pakistan’s Ambassador and he was playing that role.
He said that from January 2021, the process of exchanging trade delegations between Pakistan and Saudi Arabia would be re-established, which would further improve bilateral trade and economic relations between the two countries.
Speaking on occasion, ICCI President Muhammad Ahmed Waheed said Saudi investors should explore JVs and investments in CPEC which would also provide them with easy access to Central Asian markets.
He said the cordial relations between Pakistan and Saudi Arabia should turn into growing trade and economic ties as the current volume of bilateral trade between the two countries does not reflect their real potential. He said Pakistan and Saudi Arabia were trading in restricted items and they should focus on direct business with the diversification of trade items to increase trade volume further.
He said that many Pakistani products, including value-added textiles, surgical instruments, sporting goods, organic food, financial services, insurance and IT services and entertainment products, could find a good market in Saudi Arabia.
(Sahar News Monitoring Desk)

Check Also

Iran Ready to Sign Military and Security Agreements with Gulf States

Iran Ready to Sign Military and Security Agreements with Gulf States

TEHRAN – Iranian Defense Minister, Amir Hatami, has said that Iran is ready to sign …

Leave a Reply

Your email address will not be published. Required fields are marked *