ISLAMABAD: Pakistan is witnessing a gradual increase in export to Saudi Arabia which reached US $ 418 million from US $ 393 million in fiscal year 2009-10.
"Although we have seen a gradual increase in our exports to Saudi Arabia during the last few years yet it is not enough and with help of the private sector we can enhance over trade," a senior official said on Thursday while listing the measures adopted during last four years to achieve better results.
He said there is no single factor or action which determines the size and direction of trade, adding that it is a combination of factors and depends on a continuous and sustained strategy which determines trade volumes.
The official said participation in exhibitions is an important promotional tool for boosting trade as Trade Development Authority of Pakistan (TDAP) organized and participated in different fairs/exhibitions to showcase Pakistani products.
The Commercial Section in Saudi Arabia of Pakistan also organized some events which included catalogue shows in local chamber premises at Jeddah, Makkah, Taif and Madinah to introduce our products in this region.
The Section also organized an investment conference in Jeddah in cooperation with Board of Investment to attract Saudi investment in Pakistan, which was highly successful.
Moreover, several Saudi business delegations were sent to attend Expo-Pakistan at Karachi on regular basis since 2009 while a lot of information was disseminated to private sector trade bodies, government agencies and individuals to avail business opportunities.
He said hundred of local businessmen and Pakistani entrepreneurs were also received by this section to help them have interaction leading to greater business opportunities there.
The official said during the period Commercial Section in Saudi Arabia, FPCCI and TDAP motivated and organized visits of various trade delegations from Pakistan including Rice Exporters Association of Pakistan, Lahore Chamber of Commerce & Industry, Punjab Industrial Board, Auto Parts Association (PAPAM) and Marble and Granite Exporters Association.
A 19-member REAP delegation visited Saudi Arabia while a six-member delegation visited Pakistan to inspect slaughter houses in Karachi and Lahore.
The other initiatives included FTA with Gulf Cooperation Council (GCC) countries. Two rounds of negotiations have been held while the third round is expected to be held shortly.
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