Pak­istan seeks share of Saudi food mar­ket at Foodex 2017

Arab News - - CORPORATE PR -

The Trade De­vel­op­ment Au­thor­ity of Pak­istan (TDAP) in col­lab­o­ra­tion with the com­mer­cial sec­tion of the Con­sulate Gen­eral of Pak­istan in Jed­dah is par­tic­i­pat­ing in the on­go­ing Foodex Saudi 2017, Saudi Ara­bia’s lead­ing in­ter­na­tional trade ex­hi­bi­tion ded­i­cated to the food and drink in­dus­try.

The event started on Sun­day and ends on Wed­nes­day at the Jed­dah Cen­ter for Events & Fo­rums.

The ex­hi­bi­tion was in­au­gu­rated by Prince Ab­dul­lah bin Saud, head of the tourism and en­ter­tain­ment com­mit­tee at the Jed­dah Cham­ber of Com­merce and In­dus­try ( JCCI).

Con­sul Gen­eral of Pak­istan Shehryar Ak­bar Khan said pro­mot­ing bi­lat­eral trade be­tween Pak­istan and Saudi Ara­bia is one of the fore­most re­spon­si­bil­i­ties of the Pak­istani con­sulate. He said 11 Pak­istani com­pa­nies are par­tic­i­pat­ing in the ex­hi­bi­tion and in­clude the coun­try’s top ex­porters deal­ing in rice, bev­er­ages, spices, bak­ery and con­fec­tionar­ies.

He said that while Saudi Ara­bia is the re­gion’s largest food pro­ducer with 74.1 per­cent of the to­tal prod­ucts in the GCC, it im­ports more than $25 bil­lion worth of food and bev­er­age prod­ucts each year to meet its ris­ing con­sump­tion de­mands.

“With grow­ing de­mand at an an­nual rate of 18.5 per­cent due to an ex­pand­ing do­mes­tic mar­ket on ac­count of the grow­ing pop­u­la­tion and in­creas­ing an­nual pil­grim­age, Saudi Ara­bia’s food and drink im­ports are likely to reach around $70 bil­lion per an­num in the next four to five years. Re­liance on im­ports is also likely to in­crease as the Saudi gov­ern­ment has de­cided to re­duce wheat pro­duc­tion to con­serve wa­ter,” Khan said.

Th­ese de­vel­op­ments, he said, of­fer a huge op­por­tu­nity to Pak­istani com­pa­nies to fur­ther pen­e­trate into the Saudi mar­ket and in­crease their mar­ket share. “Given the fact that Pak­istan is an agri­cul­tural coun­try, and more than 50 per­cent of its ex­ports are agro- and tex­tile-based, it has enor­mous po­ten­tial to in­crease its ex­ports by tap­ping into the halal food mar­ket of Saudi Ara­bia, which cur­rently im­ports more that 80 per­cent of its to­tal food and bev­er­age re­quire­ments,” Khan added.

Com­mer­cial Con­sular She­hzad Ah­mad Khan said the Pak­istani con­sulate is ex­tend­ing its full co­op­er­a­tion to Pak­istani busi­ness­men to show­case their prod­ucts in Saudi Ara­bia and ben­e­fit from the op­por­tu­ni­ties emerg­ing out of the Saudi Vi­sion 2030 to pro­mote bi­lat­eral ties and in­vest­ment.

Prince Ab­dul­lah bin Saud, head of the tourism and en­ter­tain­ment com­mit­tee at the JCCI, and Con­sul Gen­eral of Pak­istan Shehryar Ak­bar Khan at Foodex Saudi 2017.

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