The Saudi investors and businessmen have shown their keen interest of importing traditional and world class handmade carpets, apparel and chemical products from Pakistan, underlining the need for further enhancing collaboration with the Pakistan industry to promote business between both the Islamic countries. A delegation of Saudi companies, led by Saud Abdullah, during a meeting with Friends of Economic and Business Reforms (FEBR) President Kashif Anwar, discussed investment and trade partnership with Pakistani companies.
The head of the delegation observed that Pakistan traditional handmade carpets and value-added textile industry offer a huge potential for exports, as a large segment of its industry is well-organized and has achieved international efficiency levels. He said Saudi Arabia has shown a keen interest in CPEC, besides carpets and textile sectors in accordance with their Vision 2030, which aims to diversify the Saudi economy with energy mega projects to reduce oil dependency. Saud Abdullah said their interaction was aimed to attract public and private investments in Pakistan from the Kingdom and vice versa.
The delegation said that the objective of their visit is to study Pakistan’s market for partnerships and investment and to strengthen the bilateral trade relations with Pakistan. Their prime interest was the handmade rugs in which they are interested to develop JVs.
Kashif Anwar, who is also former vice president of LCCI, introduced the delegation about the mandatory functioning of FEBR, which has recently been registered with the Securities and Exchange Commission of Pakistan (SECP). He informed the delegation that it is an investment promotion platform, playing its role as a facilitator for local and international investors.
FEBR President, on this occasion, shown an extensive presentation on various potential sectors for investment in Pakistan particularly in Punjab which includes food and agriculture, pharma, textiles, tourism, retail, e-commerce, logistics and construction etc.
Kashif Anwar said this tour of Saudi Companies will help forge unity among Muslim Ummah which is an urgent need of the hour for boosting mutual trade among Muslim countries. He appreciated the Prime Minister for his efforts to revive the economy and started inviting foreign investors and buyers and to boost the volume of the exports. He said Saudi Arabia is a big deal for Pakistani carpets producers, as Pakistani handmade traditional carpets are at higher demands in international markets.