Pakistan is seeking to expand its trade relations with Saudi Arabia, aiming for a greater share of the $5.5 billion bilateral trade market by diversifying exports beyond traditional commodities, according to Federal Commerce Minister Jam Kamal Khan.
Speaking at the conclusion of Pakistan’s first solo ‘Made in Pakistan’ exhibition in Jeddah, Khan highlighted the limited scope of Pakistan’s exports, which currently stand at $600–$700 million annually. He emphasized the importance of business forums to explore new market opportunities and foster joint ventures between Pakistani and Saudi companies.
Expanding Trade and Investment Opportunities
Pakistan’s exports to Saudi Arabia remain relatively small, with Saudi exports to Pakistan reaching $164 million in October, while imports from Pakistan totaled $66 million. However, with Vision 2030’s focus on economic diversification and foreign investment, Saudi Arabia presents a high-potential market for Pakistani businesses.
Khan underscored Pakistan’s ambition to expand trade beyond traditional sectors, such as rice and meat, and tap into new industries like IT, textiles, sports goods, surgical instruments, footwear, and leather products.
To further strengthen trade ties, Pakistan plans to participate in LEAP 2025, a major IT exhibition in Riyadh, with over 80 Pakistani companies set to take part. The initiative aims to position Pakistan’s IT sector as a key player in Saudi Arabia’s growing tech landscape.
Pakistani Workforce in Saudi Arabia
Pakistan also aims to enhance its human resource presence in the Kingdom. With nearly three million Pakistanis already working in Saudi Arabia, Khan emphasized the need to upgrade workforce skills, particularly in the IT and services sectors, to align with Saudi Arabia’s evolving economy.
“We already have a large human resource base here, but most of them are engaged in low-skilled jobs. We must upskill our workforce to contribute more effectively to Saudi Arabia’s economic transformation, especially with Vision 2030 and the 2034 FIFA World Cup coming up,” he said.
Attracting Saudi Investment in Pakistan
Beyond exports, Pakistan is actively seeking Saudi investment in key sectors such as oil and gas, renewable energy, logistics, and infrastructure.
Khan revealed that Pakistan is finalizing its first transit port policy, which will facilitate regional trade and logistics. Saudi investors are being encouraged to explore opportunities in port services, leveraging Pakistan’s strategic location as a transit hub.
To streamline investments, Pakistan’s Special Investment Facilitation Council (SIFC) has created a dedicated desk for Saudi-related projects, helping to remove bureaucratic hurdles and expedite business processes.
Overcoming Challenges and Strengthening Business Awareness
Despite the growing trade potential, Khan acknowledged several challenges, including limited awareness among Pakistani businesses about Saudi market opportunities.
“About 65% of exhibitors at this event have never exported to Saudi Arabia before. This highlights the need for greater awareness and engagement to encourage Pakistani businesses to explore this market,” he said.
He also noted that the Pakistan-Saudi trade relationship has traditionally been limited to staple food commodities. However, diversification efforts and increased participation in trade fairs are expected to boost exports in high-value industries.
Strengthening Economic Ties
Pakistan sees Saudi Arabia not just as a trading partner but as a long-term economic ally. The two countries recently signed agreements worth $2.8 billion, with $600 million in deals nearing finalization.
“We share a special relationship with Saudi Arabia that goes beyond just trade. This bond must be strengthened through shared economic opportunities, trust, and collaboration,” Khan said.
As Pakistan continues to expand its export base and attract Saudi investment, future business forums in Riyadh, Dammam, and Jeddah will further solidify the economic partnership between the two nations.
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