Pak businessmen seek trade boost

The Chamber of Commerce and Industry in Madinah received a courtesy visit from the Pakistani Consul General Aftab Ahmed Khokhar and a Pakistani trade delegation.
They were received by Muhammad Al Khatrawi, chairman of the Chamber. He welcomed the guests and talked about the great investment opportunities available in Madinah, and the city’s importance to the many Muslims because of its religious importance. He also expressed his wish and hope that there will be more partnerships with Pakistani business people.
The consul general praised the strong ties that connect Saudi Arabia and Pakistan. He expressed his wish and the wish of the business people to translate this strong relationship into economic cooperation, by utilizing the available opportunities and transforming them into actual partnerships between the business people in the two countries.
The consul general invited Madinah businessmen to visit Expo Pakistan, which will be held in Karachi from Sept. 26-29.
Muhammad Ash Sharif, secretary general of the chamber, said the chamber believes it is important to boost the commercial exchange and encourage investments between the two countries. He also said that chamber will communicate with the Pakistani Consulate in order to boost these activities.
In 2011, exports to Pakistan represented 1.19 percent of the Kingdom’s exports at a value of SR 16.323 billion, while the Kingdom’s imports from Pakistan amounted to SR1.719 billion, which represented 0.35 percent of the total imports of Saudi Arabia.
Pakistan ranked as 44th among the countries from which Saudi Arabia imports goods, which were mostly rice, sound reception and broadcasting devices, and slaughtered sheep. Saudi Arabia achieved a trade surplus of SR14.604 billion with Pakistan.
The total number of licensed projects between Saudi Arabia and Pakistan was 46, of which 13 were industrial projects, with a total cost of SR86 million. The number of completed projects was six, and the remaining projects are under construction.
There were 33 service projects, which were primarily building hotels and tourist projects. The total cost reached SR 17 million. Of these, 19 projects are already under construction.
The trade volume between Saudi Arabia and Pakistan is SR18 billion.