Saudi investors keen to invest in joint ventures sectors: Envoy

ISLAMABAD

Ambassador of Saudi Arabia, Abdullah Marzouq Al-Zahrani Wednesday said that his country considered Pakistan an important trading partnerand wanted to further enhance import of many products from it.
Pakistani businessmen could promote trade volume with Saudi Arabia by improving the quality of their products, he said while talking to a delegation of business community members here. Abd ur Rehman, Commercial Attach‚ of Saudi Embassy was also present at the occasion. He said, Saudi investors were interested in investment and joint ventures in various sectors of Pakistan’s economy.
He identified steel manufacturing and food processing as potential areas for joint ventures between the two countries. The Ambassador stressed that both countries should organize single country exhibitions and encourage frequent exchange of trade delegations to explore all untapped areas of mutual collaboration.
He assured that his Embassy would facilitate Pakistani business community in exploring business opportunities in Saudi Arabia. Speaking at the occasion, Khalid Iqbal Malik, President, ICCI said that Pakistan and Saudi Arabia enjoyed historically good relations which should be transformed into growing trade and economic relations to achieve more beneficial results for the two countries.
He said Saudi Arabia imported billion dollars’ worth of products including machines, engines, pumps, electronic equipment, iron or steel products, gems & precious metals, pharmaceuticals, iron and steel, cereals, medical and technical equipment and plastics as its imports during 2015 amounted to $170 billion. He said Pakistan could supply many of these products to Saudi Arabia and it should focus on enhancing its imports from our country.
He said Pakistan offered lucrative opportunities to Saudi investors in many sectors of its economy including oil and gas, petroleum and petrochemicals, energy, textiles, banking and financial services, fertilizer, gems and jewellery, infrastructure development etc.

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