ISLAMABAD: Pakistan and Saudi Arabia are set to deepen cooperation on boosting exports, strengthening bilateral market linkages and creating new avenues for investment and private-sector partnerships.
The development came during a meeting chaired by Federal Minister for Economic Affairs and Establishment Division Ahad Cheema to review significant progress and emerging opportunities for expanding Pakistan’s agricultural and food products trade with Saudi Arabia,
Cheema further added that the government wanted to “significantly expand” its exports of agricultural and food products to Riyadh by leveraging the country’s vast agricultural potential, strengthening value chains and facilitating greater private-sector engagement.
“The Federal Minister said the upcoming visit of Saudi Minister for Environment, Water and Agriculture Abdulrahman Al-Fadley to Pakistan would be significant in further strengthening bilateral cooperation in agriculture and food trade and exploring new avenues for investment and joint ventures,” the statement added.
During the meeting, officials briefed the participants on the progress of initiatives aimed at expanding bilateral trade in agricultural and food products and highlighted opportunities for further cooperation between Pakistan and Saudi Arabia in the agriculture and food sectors.
“The meeting was informed that Pakistan and Saudi Arabia had identified four key areas for cooperation in the food sector, including meat, rice, processed food and animal fodder,” the statement said.
The Saudi delegation also expected to hold meetings with provincial agriculture ministers to explore further avenues of collaboration and strengthen coordination between the two countries.
“As part of the visit, the Saudi delegation is scheduled to visit the National Agriculture Research Centre (NARC), where it will be briefed on Pakistan’s agricultural research, innovation and development initiatives,” the statement said.
The Saudi delegation will also meet representatives of leading Pakistani agricultural business groups to explore opportunities for trade, investment and joint ventures.
Officials further informed the meeting that several Memorandum of Understanding (MoUs) are expected to be signed during the visit, particularly in areas related to food research and the establishment of a Pakistan-Saudi Agri Investment Fund, among other initiatives aimed at promoting investment and cooperation in the agriculture sector.
Ahad Cheema reiterated that Pakistan’s Prime Minister Shehbaz Sharif is particularly “keen to” deepen economic and agricultural cooperation with Saudi Arabia and translate the longstanding relations between the two countries into stronger trade, investment and mutually beneficial economic partnerships.