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Textiles and Agriculture Key Exports to Saudi Arabia: Pakistan Envoy

Pakistan’s Ambassador to Saudi Arabia, Ahmad Farooq, has emphasized textiles, agriculture, and red meat as pivotal sectors. He urged Pakistani businesses to focus on these areas to enhance exports to the Kingdom. During his visit to the Karachi Chambers of Commerce and Industry (KCCI), he met with leading businesspersons and industrialists. The ambassador noted a 40% increase in Pakistan’s exports to Saudi Arabia during 2023-24. Notably, the information technology sector witnessed an impressive 50% growth.

Strengthening Trade Relations with MoUs

Last year, Pakistan and Saudi Arabia signed 34 agreements worth nearly $3 billion. Memorandums of understanding worth $700 million have already entered the implementation stage. Ambassador Farooq encouraged large businesses to connect with local distributors in Saudi Arabia to facilitate exports. He requested a list of key exporters in these sectors to strengthen trade relations.

Pakistani textile, agriculture, and meat products have already seen remarkable growth in the Saudi market. The Kingdom offers vast opportunities for Pakistani businesses. The ambassador’s visit aimed to discuss business opportunities with the Karachi business community. He also updated them on how Pakistan’s embassy can support access to the Saudi market.

Addressing Skilled Manpower Demand

Regarding the rising demand for skilled manpower, more than 3 million Pakistanis currently reside in the Kingdom. However, 97% of them are blue-collar workers. Saudi Arabia is developing its public service sectors, such as health, education, infrastructure, recreation, and tourism, as part of Vision 2030. This strategic framework aims to diversify the Kingdom’s economy beyond oil. Ambassador Farooq emphasized the need to enhance vocational training for Pakistani workers to meet the standards required for upcoming projects.

Strengthening Bilateral Relations

Pakistan and Saudi Arabia are close regional partners. The Kingdom remains the largest source of remittances to Pakistan, contributing $7.5 billion in the last fiscal year. Saudi Arabia has also regularly provided Pakistan oil on deferred payments and offered direct financial support to help shore up Pakistan’s forex reserves. KCCI Senior Vice President Zia-ul-Arfeen stressed the need to enhance joint ventures between the two countries. He urged Islamabad to further improve the ease of doing business for foreign investors. He also encouraged Saudi investors to consider Pakistan for investments, particularly in the food sector.

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