Saudi businesses eye stronger ties with Pakistan as Albaik confirms expansion
ISLAMABAD: Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, held a series of high-level meetings in Jeddah, aiming to strengthen trade and investment ties between Pakistan and Saudi Arabia.
The discussions took place during the inaugural Made in Pakistan exhibition and focused on business collaborations, investment prospects, and the entry of Saudi brands into the Pakistani market, according to a press release issued on Saturday.PM Shehbaz and Saudi Investment Leaders Discuss Economic Progress
In a key meeting with leading Saudi entrepreneurs, the Minister encouraged investment in Pakistan’s energy, agriculture, IT, healthcare, infrastructure, and consumer goods sectors. He emphasized Pakistan’s 22% export growth to Saudi Arabia, which now stands at $700 million, and assured investors of a business-friendly environment with tax incentives, investor protection laws, and access to a 240-million-strong consumer market.
Saudi business leaders expressed strong interest in partnering with Pakistani industries, particularly in construction materials, textiles, and food production. Several proposals were discussed to expand trade relations and industrial investments. The Minister extended an invitation for Saudi investors to visit Pakistan and participate in trade exhibitions like TEXPO, Food-AG, and the Healthcare & Mineral Show.
The meetings also covered Pakistan’s recent efforts to streamline trade regulations, including the implementation of Pakistan Single Window (PSW) and the National Compliance Centre, aimed at improving export standards and simplifying business operations.
A major highlight of the visit was Minister Jam Kamal Khan’s meeting with Albaik owner Rami Abu Ghazala. The Minister toured Albaik’s facilities and interacted with Pakistani employees working at the renowned fast-food chain.
During the discussions, Albaik confirmed its expansion into Pakistan, revealing that the process is in its final stages following the signing of an MOU. The first Albaik outlets in Pakistan are expected to launch soon, creating job opportunities and further strengthening economic ties between the two countries. The Minister welcomed the brand’s entry into the Pakistani market, recognizing its potential to enhance the country’s fast-food sector.
In another significant meeting, the Minister engaged with Pakistani investors and business leaders based in Jeddah, acknowledging their long-standing contributions to Saudi Arabia’s economic growth. He noted that 1.7 million Pakistanis traveled to Saudi Arabia in the past five years, making it the top destination for Pakistani emigrants.
He also highlighted the $7.4 billion in remittances sent from Saudi Arabia last fiscal year, underscoring the strong financial connection between the two nations. The recently established Pakistan Investor Forum in Jeddah was praised for its role in guiding new market entrants and fostering Pakistani-Saudi business collaborations.
The Minister encouraged Pakistani investors to take advantage of Pakistan’s Revised Visa Policy, which allows GCC citizens to enter Pakistan visa-free for up to 90 days, making business travel more convenient.
Minister Jam Kamal Khan’s engagements in Jeddah reaffirmed Pakistan’s commitment to expanding economic ties with Saudi Arabia. From growing Saudi confidence in Pakistan’s economy to Albaik’s upcoming expansion, the visit marked a significant step in deepening trade and investment relations.
With increasing Saudi interest in Pakistani industries, rising trade volumes, and new business collaborations, the Pakistan-Saudi economic partnership is poised for further growth, opening up exciting opportunities for both nations.
