Pakistan has become a business hub as the country pursues a policy of 'trade diplomacy' to provide maximum possible opportunities to entrepreneurs for better market access, Pakistan's Ambassador to Saudi Arabia Shahid Karimullah said.
Giving details to media persons about the 'Second Pakistan-Specific Week (Catalogue Show)', which is going to be held from November 3 to 7 at Jeddah Chamber of Commerce and Industry, he said that Pakistan and Saudi Arabia enjoy strong economic relations.
He said that the aim of this show is to convince Saudi Arabian businessmen to invest in Pakistan and, at the same time, market Pakistan's products in that country, Arab News reported. "I urge Saudi businessmen to visit Pakistan and explore the investment opportunities," Karim said. The 'catalogue show' will provide an opportunity for interaction between Saudi and Pakistani entrepreneurs, government representatives and members of the chambers of commerce and industry.
"This (Pakistan) mission is striving to promote trade between the two countries and create business opportunities for companies on both sides. The show will project Pakistan's trade potential and provide an opportunity to Pakistani firms to introduce their products in the Saudi market," he said. He pointed out that Islamabad is pursuing an investor-friendly policy, and added that it has introduced a number of reforms removing all hurdles in investment and providing maximum facilities to the business community.
However, trade between the two countries is still below full potential, the ambassador said, noting that time has come to strengthen business activities between the two countries.
Saudi Arabia is a member of World Trade Organisation, and Pakistan should benefit from its booming business sector, he said. Top Saudi entrepreneurs have shown interest, as some 225 leading Pakistani companies have agreed to take part in the show. Catalogues, brochures, and samples totalling 11,000 will be on display. Representatives of the participating firms will be available to give further information.
High ranking officials from Pakistan, including Tariq Ikram, chief executive of Trade Development Authority, Junaid Ahmad, Adviser to Prime Minister on economic affairs, and Asif Ali, Secretary of Commerce, and representatives of leading manufacturers will attend the show, Karim said. Pakistan's Ministry of Commerce, Trade Development Corporation, Board of Investment, Islamic Development Bank and Jeddah Chamber of Commerce and Industry are sponsoring the event.