President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said that reduction in visit visa fee for Pakistani from SAR 2000 to SAR 338 for single entry and SAR 675 for multiple entries is appreciative and should be reduced further in order to make it convenient for Pakistanis to get to the Kingdom and improve trade ties.
He said that Pakistan and Saudi Arabia share brotherly ties which will boost the visit of Saudi Crown Prince Muhammad Bin Salman. Pakistan's political and fiscal standing will get improved with visit of Saudi Crown Prince along with high power delegation of ministers, investors and traders.
While talking to the business community, he said that Saudi Arabia is a country of 32 million people with GDP of $640 billion while Pakistan comprised of 210 million people with GDP of only $290 billion.
As per global competitive index, Saudi Arabia ranked 30 out of 137 countries while Pakistan ranked 115 however on global index Saudi Arabia stands at 92nd position out of 190 while Pakistan is at 136th position. The hurdles in improved competitiveness in both and KSA include strict labour regulations, restricted access to credit and complicated tax system.
He said that the brotherly relations between both Muslim countries should be used to strengthen trade ties between the countries for improving both economies. Mian Zahid Hussain said that Saudi ambassador to Pakistan Nawaf Bin Said Al Malki and counsel general to Sindh Ubaidullah Al-Harbi have important role in getting both countries closer with respect to trade and economy. Pakistan and Saudi Arabia have stood with one another at times of need and Pakistan still is playing vital role in making Saudi stronger and secured through its Armed forces.
Former Army Chief of Pakistan General Raheel Sharif is heading the Islamic Force of 39 countries, which reflects the strong bonding between brotherly countries. 1500 Army officers / officials are currently serving in KSA to impart training to Saudi Army.
Mian Zahid Hussain said that over 1.5 million Pakistanis working in Saudi Arabia are of high importance for Saudi economic growth and Pakistani foreign reserves. Last year Pakistanis in KSA remitted $920 million while bilateral trade has exceeded $3 billion in which Pakistan's exports shared $300 million approx.