Pakistan’s Ambassador to Saudi Arabia Ahmad Farooq has identified key sectors offering significant potential for economic collaboration between Pakistan and Saudi Arabia.
While speaking at the Lahore Chamber of Commerce and Industry (LCCI) here on Friday, he pointed out the sectors such as information technology, pharmaceuticals, textiles, rice, seafood, meat, sports goods, healthcare, hospitality and construction as areas where Pakistan can capitalize on existing opportunities in the Saudi market.
LCCI President Mian Abuzar Shad and Vice President Shahid Nazir Chaudhry also spoke on the occasion while Executive Committee members Amna Randhawa, Waqas Aslam, Syed Salman Ali, Ahsan Shahid, Irfan Ahmed Qureshi, Aamir Ali, Syed Hasnain Raza, Muhammad Muneeb Munno and Rana Muhammad Nisar were also present.
Ambassador Ahmad Farooq highlighted Saudi Arabia’s ongoing preparations for major global events such as the FIFA World Cup driving demand for stadiums and hotels. He described this as a unique opportunity for Pakistan’s construction and hospitality sectors, given the Saudi construction industry’s high demand for building materials, contractors, engineers, project designers and skilled labour.
The ambassador said that Pakistan has a key strength in information technology sector saying that over 90 Pakistani companies have established offices in Saudi Arabia. He called for further exploration of IT opportunities in the Saudi market.
He also mentioned the declining market share of Pakistani rice exports to Saudi Arabia, which has dropped from 60-70 percent to just 5-6 percent despite the popularity of Pakistani rice among Saudi consumers.—APP
