Pakistan, Saudi Arabia agree to increase bilateral economic, trade ties

ISLAMABAD: Pakistan and Kingdom of Saudi Arabia on Tuesday agreed to increase bilateral economic and trade relations to enhance the business integration between the two countries.

The agreement was made during a meeting between Saudi Ambassador Nawaf bin Saeed Al-Malkii and Caretaker Minister for Interior and Commerce Dr Gohar Ejaz held to negotiate bilateral economic cooperation.

The meeting was also attended by the interior secretary, commerce secretary and other high officials.

During the meeting, it was agreed to develop Pak-KSA business-to-business relations further and start negotiations for searching new business avenues.

Speaking on the occasion, Dr Gohar Ejaz said that Saudi industrialists could get benefit from investment opportunities in the steel and petrochemical industry in Pakistan.

He said that the government was taking steps to increase cooperation between Pakistan and Saudi Arabia in the Information Technology (IT) sector. The minister said the northern regions of Pakistan were rich in natural beauty.

He said that investing in luxury resorts in these areas could be beneficial for both the countries. Dr Gohar Ejaz said “we are working on setting up ‘Brand Pakistan’ stores globally to market Pakistani products.