KARACHI, May 6: The Deputy Consul General, Saudi Arabia, Nayef Al Rasheed, has said that Pakistan and Saudi Arabia should think about forming a joint business forum in order to enhance bilateral trade. The deputy consul general called on the KCCI president and members of the managing committee to discuss ways and means to increase two-way trade between the two countries.
Mr Rasheed emphasized that both the countries needed to identify problems and hindrances responsible for a very low volume of trade. He also requested the KCCI management to give their feedback on this issue.
He suggested the KCCI president to take a high-level trade delegation to various cities of Saudi Arabia in order to explore the trade potential in these cities. However, he regretted that though there was a great potential for Pakistani products in Saudi Arabia, this potential had never been fully realized by Pakistani businessmen.
In reply to a question regarding visa issuance, Mr Rasheed said he would talk to the Saudi government to ease visa restrictions for the business community. KCCI President Khalid Firoz said that lack of commitment and visa issuance problems on the part of the Saudi government had been major problems for businessmen of the two countries.
Mr Firoz said Saudi investors were reportedly facing restrictions in obtaining of a clearance certificate from the Saudi interior ministry for visiting Pakistan. “Such restrictions discourage investors and traders visiting Pakistan,” he observed.
He stressed the need for more interaction and exchange of trade delegations between the two countries to develop a level of trust among the entrepreneurs and trade organizations on both sides. The KCCI chief also regretted past incidents where various companies had exported substandard products to Saudi Arabia as against the agreed quality at the time of signing of the agreement.
“This problem can be overcome to a large extent if the payment between the two business parties is done through legal channels like banks and respected trade bodies on both sides,” he added and assured the visiting deputy consul general of chamber’s full support in identifying right and legitimate organizations for conducting business in future.—APP
