ISLAMABAD, March 22: The Saudi government has proposed various measures to increase the volume of trade between the two countries.

Well-placed sources in the Commerce Ministry told Dawn on Monday that Saudi government had proposed joint ventures in various sectors, signing of protocol agreements between various ministries and agencies of the two countries to enhance trade and cooperation.

According to the sources, there existed ample prospects for new investments and joint ventures provided the private sectors in the two countries gear up and seriously explore the opportunities.

It is, therefore, proposed to invite big time investors from Saudi Arabia to visit Pakistan to familiarize themselves with the investment environment existing in this country.

If the Saudi businessmen start visiting Pakistan frequently, it will raise the level of confidence of the investors and entrepreneurs from Saudi Arabia, who would then think positively about investing in Pakistan, it is believed.

Saudi dates and dairy products were the best in the world and Saudi businessmen should be motivated to visit Pakistan and make investment in these fields in Pakistan, the sources added.

Pakistan on its part should actively and aggressively introduce in Saudi Arabia its products such as mangoes, apples, grapes and other fruits, which were being imported in large quantities from South Africa and other countries.

It has also been proposed to exchange visits of ministers of foreign affairs, finance, commerce, labour, health and others so that officials serving in these ministries could familiarize themselves about the problems and the scope in each others country to further expand the existing level of relations in various fields.

It was proposed that chambers of commerce and industry of the two countries should involve actively in enhancing trade relation between the two countries. People from the two chambers should sit together to thrash out ways and means to accelerate the process of expansion of trade between Saudi Arabia and Pakistan.

Businessmen from both countries should be encouraged to participate in exhibitions held in Pakistan and Saudi Arabia. Both governments and personnel associated with the holding of these exhibitions should simplify the procedures so that more and more people could participate in each others exhibitions.

Bilateral trade between Pakistan and Saudi Arabia has increased from $1.5 billion during 2000-01 and 2001-02 to $1.7 billion during 2002-03, there exists considerable potential for further increase.