Consulate General of Pakistan
9 December 2019.
Consul General Mr. Khalid Majid received Chairman, Saudi – Pak Industrial & Agriculture Investment Company (SPIAIC), Mr. Sultan Mohammad Hassan Abdul Rauf at his office and discussed possibilities of enhancing cooperation between Pakistan and Saudi Arabia, capitalizing on the current warmth in the relations between the two countries. While extending felicitations to Mr. Sultan on his recent appointment as the new Chairman, Consul General highlighted the important role of SPIAIC in strengthening trade & investment relations between the two brotherly countries. He further added that current trade volume of US $ 3.4 billion between Pakistan and Saudi Arabia with major share of petroleum products was not true reflection of strong ties between the two countries. He emphasized that there were a number of untapped opportunities yet to be explored by facilitating businessmen and investors through increased interaction between private sectors of both countries by utilizing the SPIAIC platform.
Mr. Sultan thanked the Consul General for his welcoming gesture and appreciated his proactive approach and vision for promotion of bilateral trade and investment. He mentioned that the mandate given to him by Saudi Ministry of Finance was to bring a new spirit in the SPIAIC and expressed his willingness to serve the private sector at his best by gearing up the organization and introducing innovative solutions and services. He also mentioned the positively transforming Saudi economy under the Vision 2030 and Crown Prince HRH Muhammad bin Salman’s interest to mobilize private sector as a major contributor in the economy. Mr. Sultan added that he was keen to explore new ways of win-win trade and investment ventures for both sides; in this correction, Saudi investment in Pakistan’s agriculture sector on buy-back arrangement was the top priority.
There were number of proposals and suggestions discussed in the meeting for facilitation of businessmen and investors especially financing solutions for exporters of Pakistani products to Saudi Arabia. Mr. Sultan will be visiting Pakistan in the last week of December to meet various trade bodies.