ISLAMABAD: Saudi Deputy Trade Minister Abdulrahman Alharbi has acknowledged Pakistan as one of the top destinations for making investments.

During the first meeting of Pak-Saudi Joint Working Group on Trade and Investment in Riyadh on Monday, both the parties reaffirmed their commitment to strengthen their trade and investment ties in line with the understandings developed during its meeting held in Islamabad last month.

The Saudi side 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.

The kingdom also expressed its 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 two countries agreed to activate Pak-Saudi Joint Business Council within two months. It was further agreed that Pakistan will hold Single Country Exhibition in Saudi Arabia in 2018. In order to give further impetus to the trade relations, it was agreed to mutually facilitate the trade by overcoming the issues like visa fees, registration of companies, shipment delays and mutual recognition of standards

Commerce Minister You­nus Dagha 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 next meeting of the Joint Working Group will be held in Islamabad in April.

Published in Dawn, February 28th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

An audit of polio funds at federal and provincial levels is sorely needed, with obstacles hindering eradication efforts targeted.
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...