AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, June 10, 2016 (PPI-OT): Shaikh Mohammad Shafiq, has been again elected as Chairman of Pak-Saudi Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), for the year 2016.
Shaikh Mohammad Shafiq pointed out 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. The trade figure for the year 2014, 2013 and 2012 were 0.33%, 0.30% and 0.29% respectively, which are not very encouraging. The Chairman said that it is very important to analyze why are 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 imputers. 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, the same meetings will be organized every year, our commercial counselor must take a part to reactivate these meetings.
Pak-Saudi relations have always been important to both countries, Our Prime Minister, Mian Muhammad Nawaz Sharif has a special relation to the Saudi Government he should get most of it, to support Pakistani exporters. It is observed that Pakistani goods take 30 to 45 days in custom clearance, while other countries took only 6 to 10 days, this issue creates many problems for Pakistani exporters, and this issue should be addressed at government level. Concession / incentives on the patterns GCC may also be demanded.
Saudi Arabia has big potential for Rice, Home Textile and Readymade Garments exporters.
According to Shaikh Mohammad Shafiq the key reasons for investing in the Saudi Arabia are:
1. It is one of the world’s 25 largest economies and the largest economy in the Middle East
2. The Kingdom is one of the world’s fastest growing countries worldwide, with per-capita income forecast to rise from USD $25,000 in 2012 to USD $33,500 by 2020.
3. It has substantial cost advantages due to the low domestic cost of energy and industrial land due to generous subsidies and incentives.
For more information, contact:
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA)
3rd Floor, Plot No. 57-C, 24th Commercial Street,
Phase II (Ext), DHA, Karachi, Pakistan
Tel: +92-21-35890651-2
Fax: +92-21-35890653
Email: info@prgmea.org
Website: www.prgmea.org