Latest news with #MadeinPakistan
Express Tribune
08-02-2025
- Business
- Express Tribune
Albaik to expand into Pakistan
Listen to article ISLAMABAD: Pakistan's Federal Minister for Commerce, Jam Kamal Khan, engaged in a series of high-profile meetings in Jeddah to enhance trade and investment partnerships between Pakistan and Saudi Arabia. The discussions, held during the first-ever "Made in Pakistan" exhibition, focused on business collaborations, investment opportunities, and Saudi brands entering the Pakistani market, said a press release issued here on Saturday. In a key meeting with prominent Saudi businessmen, Kamal Khan invited them to explore investment opportunities in Pakistan across energy, agriculture, IT, healthcare, infrastructure, and consumer goods. He highlighted Pakistan's 22% export growth to Saudi Arabia, reaching $700 million, and assured investors of a business-friendly environment with tax exemptions, investor protection laws, and access to a 240-million-strong consumer market. Saudi business leaders expressed keen interest in collaborating with Pakistani counterparts, particularly in construction materials, textiles, and food industries. Several proposals were discussed to enhance trade partnerships and industrial investment, with the commerce minister extending an invitation for them to visit Pakistan and participate in trade exhibitions like TEXPO, Food-AG, and the Healthcare & Mineral Show. The discussions also touched on Pakistan's recent ease-of-doing-business initiatives, including Pakistan Single Window (PSW) and the National Compliance Centre, aimed at streamlining trade regulations and enhancing export standards. A major highlight of the visit was the Kamal Khan's meeting with Albaik owner Rami Abu Ghazala. He was given a tour of Albaik's operations and met Pakistani employees working at the fast-food giant. Albaik confirmed its expansion into Pakistan, stating that the process is in its final stages following the signing of an MOU. The first Albaik branches in Pakistan are expected to open soon, creating jobs and strengthening economic ties. Kamal Khan appreciated the contributions of Pakistani workers within Saudi businesses like Albaik and welcomed the brand's entry into Pakistan, highlighting its potential to enhance the country's fast-food industry and consumer market. In another significant meeting, he met with Pakistani investors and business leaders in Jeddah, recognising their contributions to Saudi Arabia's economy. He acknowledged that 1.7 million Pakistanis travelled to Saudi Arabia in the past five years, making it the top destination for Pakistani emigrants. The commerce minister also highlighted the $7.4 billion in remittances sent from Saudi Arabia last fiscal year. He noted that the Pakistan Investor Forum, recently established in Jeddah, is playing a key role in guiding new market entrants.
Express Tribune
07-02-2025
- Business
- Express Tribune
Exhibition strengthens economic ties with Riyadh
Listen to article ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan engaged in high-level meetings with Saudi officials to enhance economic cooperation and expand trade and investment opportunities between Pakistan and Saudi Arabia. The discussions took place on the sidelines of the 'Made in Pakistan' Exhibition and Business Forum in Jeddah. During a meeting with Abdul Aziz Alsakran, Deputy Governor of the General Authority of Foreign Trade, both sides underscored the importance of increasing bilateral trade and investment. Alsakran congratulated the Pakistani government on organising a successful trade event, recognising its role in promoting Pakistani products and fostering stronger business ties between the two countries. In another key discussion, Kamal Khan met with Hassan Moejeb Al-Huwaizy, Chairman of the Federation of Saudi Chambers, to explore institutional collaboration. The minister reaffirmed Pakistan's commitment to strengthening economic partnerships and the role of business chambers in driving bilateral trade. He proposed structured Business-to-Business (B2B) networking activities to unlock new trade and investment prospects. The 'Made in Pakistan' Exhibition and Business Forum, held from February 5-7 at the Jeddah International Exhibition and Convention Centre, brought together top Pakistani companies and Saudi investors. The event provided a platform to showcase Pakistan's industrial potential and explore collaboration in key sectors. The commerce minister inaugurated Pakistan's first-ever Single Country Exhibition in Saudi Arabia, marking a significant milestone in Pak-Saudi trade relations. Addressing Saudi officials, business leaders, and diplomats, he stressed the importance of strengthening economic ties and showcasing Pakistan's diverse industrial base. "This event is a testament to the enduring relationship between Pakistan and Saudi Arabia, rooted in shared faith, cultural ties, and strategic partnership," he stated. He highlighted Pakistan's expertise in textiles, sports goods, light engineering, food, and construction materials, stressing the government's commitment to expanding trade through strategic initiatives. The minister noted Pakistan's evolving industrial base and its potential for collaboration, particularly in food security, energy, mining, and human resource development. He underscored the role of the Special Investment Facilitation Council in prioritising Saudi investments in Pakistan. Kamal Khan also acknowledged the significant contributions of the 2.7 million-strong Pakistani diaspora in Saudi Arabia. He pointed out that over 1.7 million Pakistani workers have migrated to the Kingdom in the past five years, making it the top destination for Pakistani emigrants. Highlighting Pakistan's globally renowned football manufacturing industry, the minister congratulated Saudi Arabia on securing the bid to host the 2034 FIFA World Cup. He expressed confidence that Pakistan would continue producing FIFA footballs, following its legacy of manufacturing for past tournaments. "From Brazuca to Telstar to Al-Rihla, Pakistani footballs have a rich history with FIFA. We look forward to contributing to FIFA 2034," he stated. The minister also called for deeper collaborations between Pakistani and Saudi businesses, under scoring joint ventures targeting markets in Africa, Central Asia, and the Far East. "Together, we can explore new markets and create successful trilateral partnerships, leveraging the vast experience of Pakistani entrepreneurs," he remarked. The 'Made in Pakistan' exhibition featured 137 Pakistani companies and was attended by prominent Saudi officials, diplomats, and business leaders.
