Shafiq elected Chair­man PakSaudi Busi­ness Coun­cil

Pakistan Observer - - ECONOMY WATCH -

KARACHI—Chair­man, Pak-Saudi Busi­ness Coun­cil (PSBC), Fed­er­a­tion of Pak­istan Cham­bers of Com­merce and In­dus­try (FPCCI) Shaikh Mo­ham­mad Shafiq has said that Saudi im­port from the world in 2015 were $ 163.82 bil­lion out of which Pak­istan’s share was only 494.88 mil­lion (0.30%), which is not sat­is­fac­tory. In a state­ment is­sued here on Fri­day, he said the trade fig­ure for the year 2014, 2013 and 2012 were 0.33%, 0.30% and 0.29% re­spec­tively, which are not very en­cour­ag­ing.

Shaikh Mo­ham­mad Shafiq, who has been again elected as Chair­man of PSBC, FPCCI, for the year 2016, said that it is very im­por­tant to an­a­lyze why are we sell­ing so lit­tle in the Saudi mar­ket. He said that we should come up with a strat­egy to en­hance our value added prod­ucts in Saudi Ara­bia. “Saudi Ara­bia’s fast-grow­ing economy is cre­at­ing op­por­tu­ni­ties for both ex­porters and in­vestors. Our com­mer­cial coun­selor can play a vi­tal role to boost Pak­istani ex­ports. They can ar­range B2B meet­ing with Saudi im­porters. Sin­gle coun­try ex­hi­bi­tions must be or­ga­nized as well as FPCCI/TDAP should form fre­quent busi­ness del­e­ga­tion to visit Saudi Ara­bia for mar­ket ex­plo­ration. Two years ago it was de­cided in the meet­ing of Pak-Saudi Busi­ness Coun­cil (PSBC) of FPCCI and Saudi of­fi­cials at Jed­dah.

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