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PM Urges Saudi & Pakistani Private Sectors to Realize Untapped Potential of Trade

Prime Minister Imran Khan has urged the private sectors of Pakistan and Saudi Arabia to take full advantage of the close and cordial relations between the two countries by realizing the untapped potential in the spheres of trade, business, and investment.

Addressing the Saudi-Pakistan Investment Forum hosted by Saudi Minister of Investment Engr. Khalid bin Abdulaziz Al-Falih on Monday, the Prime Minister stressed the importance of engaging the private sectors to fortify the economic relationship.

The event was attended by a large number of Saudi investors and businessmen, key Pakistani business leaders, investors from the Pakistani diaspora, and stakeholders from Pakistan’s private sector based in the Kingdom.

The leading Saudi firms including SABIC, ACWA Power, Ma’aden, SALIC, Al-Zamil Group, Al-Bawani Group, and Riyad Bank attended the Forum and affirmed their resolve to build deeper business engagement with Pakistan.

The Prime Minister emphasized that Pakistan offered a strong and large consumer market of over 220 million, with an ever-expanding middle class. He highlighted that the Government of Pakistan followed liberal and investor-friendly policies. He underlined that the government was committed to providing an enabling environment to strengthen the investor-friendly dispensation in the country.

Highlighting the significance of Pakistan as a gateway to the Asian markets and beyond, the Prime Minister underlined that the geostrategic position offered Pakistan distinctive opportunities to stimulate intra-region trade by building regional connectivity on modern lines. To realize that potential, the Prime Minister underscored the historic shift in Pakistan’s strategic focus from geo-politics to geo-economics.

He stressed Pakistan’s proximity to the two biggest markets, noting that Pakistan had excellent relations with China and that there could be further economic dividends if the unresolved dispute of Jammu & Kashmir was peacefully resolved with India.

Reaffirming Pakistan’s longstanding, deep fraternal relations with Saudi Arabia, the Prime Minister underscored the reverence Pakistanis had for the Custodian of the Two Holy Mosques and expressed gratitude for Saudi Arabia’s support to Pakistan at every juncture.

The Prime Minister thanked Engr. Khalid bin Abdulaziz Al-Falih for his invaluable role in successfully organizing the Investment Forum. He also warmly welcomed the investors to the Forum and expressed the hope that tangible outcomes would be achieved for the benefit of the two countries.

Foreign Minister Shah Mahmood Qureshi, Advisor to the Prime Minister on Finance and Revenue Shaukat Tarin, and Minister for Energy Hammad Azhar also spoke at the event. Separate presentations were made on the investment opportunities in Pakistan in the housing and hydropower sectors.

In his keynote address, the Saudi Minister underscored the longstanding relations between Saudi Arabia and Pakistan. He reiterated the resolve to further deepen bilateral trade, investment, and business links.

Foreign Minister Shah Mahmood Qureshi focused on Pakistan’s shift from geopolitics to geoeconomics.

Adviser on Finance Shaukat Tarin highlighted the economic resurgence of Pakistan, while the Minister for Energy outlined the vast opportunities in the key sectors like energy, agriculture, and livestock.

The participants of the Forum were informed that all sectors of Pakistan’s economy were open for foreign investment without any restrictions on remitting capital, profits, and dividends. Elaborating on the opportunities, the Prime Minister elucidated that the country had tremendous opportunities for foreign investors in particular in renewable energy, food and agriculture, infrastructure development, housing, health, and tourism sectors. The Prime Minister especially highlighted the Ravi City and Central Business District projects.

The participants were assured of the Government of Pakistan’s support for their investment and business endeavors in Pakistan. The Forum was also preceded by the inaugural meeting of the Pakistan-Saudi Business Council.

Source: Pro Pakistani

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