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Jeddah - Yasmine El Tohamy - DiplomaticQuarter: Pakistan ambassador to Riyadh reveals plan to promote trade ties
RIYADH: The Pakistan Embassy in Riyadh has met with Saudi and Pakistani investors in an effort to strengthen trade relations between the two countries.
“The Pakistan Embassy convened a business meeting with the Saudi and Pakistani investors delegation based in Saudi Arabia under the chairmanship of Ambassador Raja Ali Ejaz,“ an embassy official told Arab News on Wednesday.
During the meeting, the envoy welcomed business delegates, and highlighted trade and business opportunities in Pakistan.
Trade Minister Azhar Ali briefed the audience on the embassy’s assistance for Saudi and Pakistani investors.
Pakistan is undertaking a host of initiatives to increase export share and boost foreign direct investment in the country.
Raja Khalid, chairman of the Pakistan Investor Forum (PIF), thanked the envoy for encouraging business and investment.
During the meeting, some businessmen pointed out problems regarding remittances and tax issues.
Exporters have faced many challenges, including loss of contracts, lockdown and labor issues, during the pandemic.
Many business people are interested in investing in Pakistan’s construction, hospitality and power generation sectors.
Ali told the meeting he would arrange online sessions with Pakistan’s Board of Investments, Trade Development Authority and chambers of commerce to encourage support from all public sector organizations.
Delegations from Saudi Arabia and Pakistan will also explore marketing opportunities in both countries.
The envoy said that Pakistan must make extra efforts to regain markets in Saudi Arabia, which have become highly competitive and challenging following a VAT increase from 5 percent to 15 percent from July 1.
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