ISLAMABAD: Observing that the current trade volume falls short of expectations, Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz said in Riyadh Thursday that Pakistan wanted to lift bilateral trade with Saudi Arabia upto $20 billion.
Addressing the Pakistan-Saudi Business Forum, the minister said that legislation would be enacted to promote bilateral investment between the two brotherly countries, according to press statement issued by Commerce Ministry here.
Dr. Gohar Ijaz, who is heading a delegation of Pakistani industrialists, also met with the Saudi Minister of Commerce, Dr. Majid bin Abdullah Al-Kassabi.
Investment modalities: Consensus reached with KSA
The meeting focused on enhancing investment in sectors such as construction, digital economy, and infrastructure between Pakistan and Saudi Arabia.
The Pakistani delegation included Punjab Minister S.M. Tanveer and notable businessmen; Arif Habib, Muhammad Ali Tabba, and Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Atif Ikram.
Ejaz mentioned that a Free Trade Agreement (FTA) between Pakistan and Gulf countries had been ratified.
Speaking at the forum, Chairman of the Saudi Business Forum Hassan Al Hazawi stated that bilateral trade between the two countries has increased by 35 percent. The Saudi Minister of Commerce commended efforts to strengthen bilateral trade relations and praised Gohar Ijaz for his personal interest in enhancing trade relations. He emphasized that Pakistanis were our brothers, and Saudi Arabia offered extensive employment opportunities for Pakistanis.
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