FPCCI, Saudi investors discuss JVs

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has discussed joint ventures (JVs) with Saudi investors to enhance trade volumes between the countries and explore new business avenues, FPCCI president Irfan Iqbal Sheikh said on Tuesday.

Speaking to a session of Pakistan- Saudi Arabia Joint Business Council, sectors such as value-added textiles, leather products, footwear, handicrafts, sports goods, pharmaceuticals, and surgical goods could fetch major additional orders from Saudi Arabia.

Sheikh also emphasised on trade of gems, jewelry, rice, fruits, vegetables, and construction materials to curtail Pakistan’s trade deficit.

He apprised that business, industrial, and trade communities of the two sides had never been that confident before on potential areas of cooperation as bilateral diplomatic, defence, economic and trade ties are at an all-time high, he added.

Fahad Bin Muhammad Al-Bash, chairman of Saudi-Pak Business Council, invited proposals from Pakistani business community for swift and tangible development on projects of mutual interest. He added that Pakistani rice, spices, fruits and cuisine are popular in Saudi Arabia and Pakistani exporters should come forward for a bigger market share, he urged.