Pakistan, Saudi trade volume crosses $4b

ISLAMABAD (APP) - Saudi Arabia is among the 15 export partners of Pakistan with which bilateral trade volume has gone above US$ 4 billion per annum and this would be further increased in future. This was stated by the President Islamabad Chamber of Commerce and Industry, Mian Shaukat Masud during a meeting with Ambassador of Saudi Arabia to Pakistan, Ali Awadh Assari, who paid a farewell visit to ICCI here Wednesday. Speaking on the occasion, Ali Awadh said that there was a need to devise a short and long-term strategies to boost the trade and business relations between the two countries. He asked for encouraging efforts for boosting direct trade between Pakistan and Saudi Arabia to benefiting the people of both countries. He said that due to the involvement of a third country, prices of goods more then double because of taxes and the quality of the goods like fruit and vegetable was also decomposed. The Ambassador suggested to increase the number of cargo flights between both of the countries to save extra tax expenditure as well as quality of a product. He urged the local business community to interact with the Saudi business men to further boost trade in the fields of surgical instruments, furniture, leather goods, fruit and vegetable. The people from every corner of Pakistan are serving in different sectors including health, education, construction and communication which was a symbol of trust and historic friendship between both the countries. The Ambassador informed that Saudi embassy was processing about 1400 work visa per day to facilitate the business community here. He said that Pakistan was facing many challenges including extremism and terrorism, which can be resolved only through home made strategy adding that best minds and leadership was present here to meet any challenge, he said. Saudi Arabia would continue its diplomatic and financial assistance and efforts to help Pakistan for the development and prosperity of its people. ICCI President Mian Shaukat Masood thanked the Ambassador for his farewell visit to ICCI and said that Saudi Arabia has always provided considerable economic and financial assistance which played an important role in the economic development. He asked for simplifying the visa process to further facilitate the business community in the country. ICCI chief said that there were 350 Pakistani investors in the Kingdom who have obtained licenses from Saudi Arabian General Investment Authority and have established companies in various fields.

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