Pak-Saudi Trade Booms: 22% Export Growth
With the support of the Special Investment Facilitation Council (SIFC), trade relations between Pakistan and Saudi Arabia are further strengthening, which is boosting the country’s economy.
According to recent data, Pakistan’s exports to Saudi Arabia have recorded a 22% increase, after which the bilateral trade volume has increased from $ 546 million to $ 700 million.
Increase in Saudi investment, interest in various sectors
Saudi investors have expressed keen interest in investing in various sectors of Pakistan,
including important sectors such as energy, agriculture, IT, and construction. This investment will not only help Pakistan’s economic development but will also create new employment opportunities.
Cooperation in the IT sector, the goal of increasing exports
Exports of IT services between Pakistan and Saudi Arabia are also increasing rapidly.
The government has set a target of increasing Pak-Saudi IT services exports from $50 million to $100 million.
Under this objective, a help desk has been set up by Saudi Arabia to facilitate the registration process of Pakistani IT companies, which will help Pakistani companies to operate there.
Al-Bik’s arrival in Pakistan, a new development in the food industry
The announcement of opening branches of Saudi Arabia’s leading food chain “Al-Bik” in Pakistan is also a major development, which will not only expand the Pakistani food industry but also create many employment opportunities.
Al-Bik’s arrival in Pakistan will also pave the way for global food brands and more international quality food services will be available to Pakistani consumers.
Role of SIFC: Strengthening trade relations
With the efforts of the Special Investment Facilitation Council (SIFC), trade relations between Pakistan and Saudi Arabia are further improving.
This council is not only providing a conducive environment for investment but is also providing economic, commercial, and legal support to foreign investors.
Conclusion
The growing trade relations between Pakistan and Saudi Arabia are leading to economic benefits for both countries.
Saudi investment will create new employment opportunities in Pakistan, increase exports, and further stabilize the country’s economy.
With the efforts of SIFC, Pak-Saudi economic relations are entering a new and stronger era, which is brightening the prospects of further development in the future.
