Saudi pact a positive development for business community: FPCCI

KARACHI: Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Aman Paracha has welcomed the recent defense agreement between Pakistan and Saudi Arabia, calling it a positive development for Pakistan’s business community.

Speaking to media at the FPCCI on Thursday, Aman Paracha stated that the agreement with Saudi Arabia should serve as a model for similar deals across the entire Muslim world. He highlighted that the current trade volume between Pakistan and Saudi Arabia stands at USD 3.5 billion.

Next month, a major expo is scheduled to take place in Makkah, in which a large number of exporters from Pakistan will participate.

Paracha emphasized the strong demand for sports goods in Saudi Arabia, noting that exporters from Sialkot have already requested to book all available stalls at the Makkah Expo. He called the Pakistan-Saudi Arabia agreement a historic one, warmly welcomed by the business community, and expressed optimism that it will lead to increased trade.

He further said that Pakistan is well-positioned to export sports goods, surgical instruments, rice, food items, and other products to Saudi Arabia. Additionally, he pointed out that a large number of skilled Pakistani workers go to Saudi Arabia for employment, and expressed hope that the Saudi government will provide even more opportunities for them, which would help Pakistan earn substantial foreign exchange.

Aman Paracha also mentioned that the agreement includes cooperation on mines and minerals. He concluded by stating that the current deal has caused serious concern in India.

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