ISLAMABAD:
Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, held a series of high-profile meetings in Jeddah to boost trade and investment relations between Pakistan and Saudi Arabia.
The discussions took place during the inaugural Made in Pakistan exhibition, focusing on business collaborations, investment opportunities, and the entry of Saudi brands into the Pakistani market, according to a press release issued on Saturday.
In a key meeting with leading Saudi businessmen, Jam Kamal Khan invited investors to explore opportunities in Pakistan’s energy, agriculture, IT, healthcare, infrastructure, and consumer goods sectors. He highlighted a 22% increase in Pakistan’s exports to Saudi Arabia, reaching $700 million, and assured a business-friendly environment with tax incentives, investor protection laws, and access to a 240-million-strong consumer market.
Saudi business leaders expressed keen interest in collaborations, particularly in construction materials, textiles, and food industries. Several investment proposals were discussed to enhance trade ties, with the minister inviting Saudi investors to visit Pakistan and participate in trade exhibitions such as TEXPO, Food-AG, and the Healthcare & Mineral Show.
The discussions also covered Pakistan’s ease-of-doing-business initiatives, including the Pakistan Single Window (PSW) and the National Compliance Centre, aimed at streamlining trade regulations and improving export standards.
A significant highlight of the visit was Jam Kamal Khan’s meeting with Albaik owner Rami Abu Ghazala. He toured Albaik’s operations and interacted with Pakistani employees working at the fast-food giant. Albaik confirmed its expansion into Pakistan, stating that the process is in its final stages following the signing of an MoU. The first Albaik outlets in Pakistan are expected to open soon, creating job opportunities and strengthening economic ties.
Kamal Khan acknowledged the contributions of Pakistani workers in Saudi businesses like Albaik and welcomed the brand’s entry into Pakistan, emphasizing its potential to enhance the local fast-food industry.
In another key meeting, the commerce minister engaged with Pakistani investors and business leaders in Jeddah, recognizing their contributions to Saudi Arabia’s economy. He noted that 1.7 million Pakistanis had traveled to Saudi Arabia in the past five years, making it the top destination for Pakistani emigrants.
He also highlighted the $7.4 billion in remittances sent from Saudi Arabia last fiscal year and acknowledged the role of the newly established Pakistan Investor Forum in Jeddah in guiding new market entrants.
