Pak-Saudi Business Conference Discusses JVs

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audi investment in Pakistan is highly significant for positive trajectory of Pakistan’s growth and economy as Saudi Arabia is a partner of Pakistan in its journey of prosperity. The Saudi announcement of huge investment in various sectors of Pakistan will improve Pakistani economy. In the bid to further cement this economic partnership, both the countries held a joint business conference to strengthen bilateral economic ties, a day after they signed seven agreements worth $20 billion to promote trade and investment in Pakistan.

While addressing the Pak-Saudi Business Conference Adviser to Prime Minister on Commerce Abdul Razak Dawood said that a new chapter had begun in bilateral relations of Pakistan and Saudi Arabia therefore Saudi investors and business will be provided all out facilities in their business ventures. Abdul Razak Dawood said investment in mining and mineral development from Saudi investors will be highly appreciated. “For the last few years, we have been moving in the direction of improving power shortages and infrastructure. Chinese government has helped us in this work,” he said, adding that our relationship with Saudi Arabia is moving in a different direction and at a different level.

Saudi Minster for Commerce Majid Al-Qassabi sai Pak-Saudi relations are moving in a new and positive direction. He said Saudi Crown Prince has expressed desire to turn the bilateral relations with Pakistan into a strategic partnership. He said Saudi Crown Prince has also asked to give assurances that Pakistan and Saudi Arabia are partners in development. The Saudi Commerce Minister said our bilateral trade volume stands at 3.7 billion dollars with an increase in the last 15 years; however, this still needs improvement. Majid Al-Qassa said we need to market things rightly and attract investors from both sides. For this we will frankly discuss the opportunities and challenges to reach at the fruitful outcomes.

 

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