A senior Pakistani trade official said on Tuesday that Pakistan could almost double its exports to Saudi Arabia in the forthcoming few years, particularly if Pakistani jewellery and steel can successfully compete in Saudi markets.
Taqiq Ikram, Pakistani Minister of State and Chairman of the Export Promotion Board, said in an exclusive interview with the Saudi Gazette that Pakistan’s exports to Saudi Arabia reached a value of $477 million this year - which represents a 44% increase from the year 2002 - and could reach a value of $800-850 million in the near future.
“There is considerable room for growth in Pakistan's sales to Saudi Arabia because of the goodwill that exists for Pakistan in the Kingdom,” he said. Ikram is a member of the 40-member Pakistani business delegation that is currently visiting the Kingdom of Saudi Arabia. He said that officials from both countries have agreed to establish a committee to facilitate and promote trade between Pakistan and Saudi Arabia.
The Minister said that the Council of Saudi Chambers of Commerce and Industry plans to send a delegation to Pakistan in early 2004, as will both the Riyadh and Dammam Chambers. The Saudi delegations will examine trade and investment opportunities in export-oriented industries in Pakistan.
Ikram said that the Kingdom’s leading jewellery makers intend to build a workshop in Pakistan; Saudi and Pakistani officials have agreed to create a consortium of Pakistani rice suppliers and distribution and retail partners in the Kingdom; Saudi businessmen and financiers are interested in investing in Pakistani textile mills and garment workshops, leather goods, medical equipment, aquaculture, mining, stone cutting, jewellery and gems, fruits and vegetables, and joint reconstruction projects in Afghanistan and Iraq.
Source: SPA
