Khalid Nawaz Cheema/Jeddah
Jeddah: The Pakistan will hold Single Country Exhibition in Saudi Arabia in 2018 and Pak-Saudi Joint Business Council will be activate within two months. It was decided during the first meeting of Pak-Saudi Joint Working Group on Trade & Investment held at Riyadh on Monday, 27th February. In order to give further impetus to the trade relations, both sides agreed to mutually facilitate the trade by overcoming the issues like visa fees, registration of companies, shipment delays and mutual recognition of standards, according to press counselor of Jeddah.
Pakistan and Saudi Arabia held delegation level meeting Mr. Abdulrahman Alharbi, Deputy Minister for Foreign Trade of Kingdom of Saudi Arabia lead the Saudi delegation while Pakistan side was headed by Mohammad Younus Dagha, Commerce Secretary accompanied by Mr Saleem Ranjha Additional Secretary Board of Investments (BOI) and Dr Javed Humayun Senior Joint Secretary . Pakistan ambassador to Saudi Arabia Khan Hasham Bin Saddique, and Saudi Arabian ambassador to Pakistan Nawaf bin Saeed Al-Maliki assisted their respective delegations. A team of Pakistan technical staff were also present on the occasion.
Mr. Abdulrahman Alharbi, Deputy Minister for Foreign Trade of Kingdom of Saudi Arabia on the occasion said that Saudi Arabia views Pakistan as one of the top destinations for making investments. Mohammad Younus Dagha, Commerce Secretary appreciated the progress made on various important matters in today’s meeting and assured support to Saudi investors looking to invest in various sectors.
The two sides reaffirmed their commitment to strengthen their trade and investment ties in line with the understandings developed during the meeting of Pak-Saudi Joint Ministerial Commission held in Islamabad last month. Saudi side acknowledged and appreciated the attractiveness of Pakistan as a preferred destination of investment in view of its macroeconomic indicators, growth projects, strategic location and overall investment regime. Saudi side showed their interest in investing in Pakistan in many sectors including petrochemicals, dairy, livestock, mining etc. It was agreed that Saudi Arabia will send a technical team to Pakistan to review the sector specific opportunities and projects.
The Joint Working Group will reconvene in Islamabad in April 2018, where sector specific initiatives will be discussed.