Pakistan aims for $20bn bilateral trade with Saudi Arabia

February 22, 2024 (MLN): Observing that the current trade volume falls short of expectations, the Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz, stated that Pakistan aims to increase bilateral trade with Saudi Arabia to $20 billion, as APP reported.

Addressing the Pakistan-Saudi Business Forum in Riyadh on Thursday, 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. 

The meeting focused on enhancing investment in sectors such as construction, digital economy, and infrastructure between Pakistan and Saudi Arabia. 

The minister 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%.

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 their brothers, and Saudi Arabia offered extensive employment opportunities for Pakistanis.

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