pm orders top-notch hospitality for saudi business delegates
Published on: May 7, 2024.
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PM Shehbaz Sharif Calls for Enhanced Trade and Investment with Saudi Arabia
Prime Minister Shehbaz Sharif has emphasized the importance of enhancing trade and investment with Saudi Arabia. He directed relevant authorities to ensure maximum hospitality for the Saudi business delegation, scheduled to arrive in Pakistan for business-to-business (B2B) talks. The PM expressed his gratitude for Saudi Arabia’s initiatives to invest further in Pakistan, highlighting the countries’ friendly ties and Saudi Arabia’s unwavering support. The Saudi Crown Prince, Mohammad bin Salman, has shown keen interest in investing in Pakistan.
During a meeting, ministers and secretaries updated the PM on the upcoming visit of the Saudi business delegates and the expected investment in various sectors. Thirty major Saudi companies, dealing with sectors like IT, construction, agriculture, food, rice, energy, services, minerals, environment, logistics, and human resources, will be part of the delegation. The talks will cover areas such as energy and agriculture under government-to-business (G2B) and government-to-government (G2G) modes. Pakistani entrepreneurs have been lined up to hold B2B talks with their Saudi counterparts, with the aim of enhancing bilateral trade.
Currently, the bilateral trade between Pakistan and Saudi Arabia stands at $4.753 billion, with a trade deficit of $1.957 billion. Pakistan primarily exports rice, bovine meat, and spices to Saudi Arabia, while importing petroleum products and polymers. PM Shehbaz Sharif aims to increase exports from Pakistan to Saudi Arabia through B2B trade on a larger scale.
This visit and the resulting talks are expected to further strengthen trade and investment ties between the two countries and pave the way for future collaborations.
Source: [The News](https://www.thenews.com.pk)
