Pakistan Sets Ambitious Goal to Increase Trade with Saudi Arabia to $20 Billion

Islamabad, The Government of Pakistan has set an ambitious target to elevate its bilateral trade with Saudi Arabia to USD 20 billion, acknowledging that the current trade volume falls short of potential. This initiative reflects Pakistan's commitment to strengthening economic ties with the Kingdom of Saudi Arabia (KSA) and enhancing mutual investments.

According to Zameen.Com, the announcement was made during the Pakistan-Saudi Business Forum held in Riyadh, where Commerce and Industry Federal Minister Gohar Ejaz underscored the importance of legislative reforms to foster bilateral investment. The forum served as a platform for Ejaz to engage in dialogue with his Saudi counterpart, Commerce Minister Dr. Majid bin Abdullah Al-Kassabi, with discussions centering on amplifying investments in key areas such as construction, the digital economy, and infrastructure development.

Minister Ejaz also pointed to the potential ratification of a Free Trade Agreement between Pakistan and the Gulf countries as a significant step towards achieving this trade target. The talks at the forum align with Pakistan's broader strategy to diversify its economic partnerships and tap into new markets for growth and development.