Vision 2030 – a gateway to enhance Pak-Saudi ties

Updated 14 August 2017
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Vision 2030 – a gateway to enhance Pak-Saudi ties

Pakistan and Saudi Arabia enjoy excellent bilateral relations. Close geographical proximity, historic trade ties, religious affinity and the complementary nature of economic needs have created a strong basis of trust between the two countries.
In addition, there is a convergence of views and interests of the two sides on most regional and international issues.
In commercial and trade sector, Pakistan and Saudi Arabia maintain good relations. The Kingdom is among the top 20 major export destinations of Pakistan. Pak-Saudi annual bilateral trade had traditionally been around $3 billion, which in the last year had reduced around $1.2 billion because of low oil prices.
Major items of exports from Pakistan to Saudi Arabia include food, textiles, leather goods, sports equipment and surgical instruments etc. while Pakistan imports major requirements of petroleum from Saudi Arabia. The other items of import from Saudi Arabia, though minor in volume, include petrochemicals, organic chemical products, plastic and plastic products, fertilizers, steel products, electrical equipment and materials etc. However, there exists a trade imbalance in favor of Saudi Arabia, mainly due to the bulk import of petroleum in Pakistan from Saudi Arabia.
Efforts are underway on both sides to increase and balance the bilateral trade volume by drawing common contours between “Saudi Vision 2030” and “Pakistan Vision 2025” supported by a new era of socioeconomic development of Pakistan through the China-Pakistan Economic Corridor (CPEC) and its allied opportunities.
The Vision 2030 envisages the desire for linkages with the international markets and offers a win-win situation for both partners. In order to capitalize on this opportunity and matching it with Pakistan Vision 2025, there is a need for adopting trade and economic diplomacy as an integral part of our strategy to improve bilateral trade and investment.
In line with the above strategy, the Pakistan diplomatic missions in Saudi Arabia are following a business plan that highlights ways and means to improve bilateral trade and investment, to seek opportunities for joint ventures in manufacturing and services sectors and to strive for human resource development. These missions are working to ensure easy access of information to potential buyers of Pakistani products.
In order to contribute to the goal of industrialization under the Vision 2030, diplomatic missions are also developing a business model whereby the Saudi manufacturing sector would be developed by having Saudi capital investment supplemented by the technology and skilled manpower from Pakistani counterparts as joint venture (JV) partners for these sectors. It would be a win-win situation for both sides.
The journey of socioeconomic development with mutual cooperation between the two brotherly countries is ongoing and there is no doubt that the Vision 2030 would prove to be a gateway to improve Pak-Saudi bilateral economic relations making them partners in the prosperity of each other.
• The writers are members of the Commercial Team at Pakistan Consulate, Jeddah and could be reached at [email protected]


Coordinated Arab efforts urged to overcome challenges

Updated 27 min 41 sec ago
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Coordinated Arab efforts urged to overcome challenges

CAIRO: Dr. Khalid Al-Ghamdi, chairman of the Arab Media Standing Committee and general supervisor of foreign media at Saudi Arabia’s Ministry of Media, called for coordinated Arab efforts to overcome regional challenges particularly the Palestinian issue and terrorism.
Al-Ghamdi was presiding over the committee’s 93rd session held at Arab League’s headquarters in Cairo on Sunday.
He said the meeting discussed a number of key issues including the Arab Media Charter of Honor. It was, Al-Ghamdi said, a continuation of previous meetings to discuss their outcomes and review the results in the light of proposals put forward by different member Arab countries.
The meeting was also attended by Arab League’s Assistant Secretary-General for Social Affairs Ambassador Badr El-Din Alali, Counselor Fawzi Al-Ghwail, director of the technical department of the Council of Arab Information Ministers, representatives of Arab member states, representatives of Arab information ministries and the heads of Arab media agencies and institutions.
Alali said the Palestinian question continues to remain the main issue in addition to the terrorist threats, sustainable development and the Arab image in the West.
“Implementing the Arab Media Strategy and improving media practices using the latest technologies is vital for media to effectively contributing to awareness programs and supporting the region’s vital issues.”
He said the inclusion of the Arab Media Charter of Honor and media education to the agenda is of great importance.
He also express resolve to counter the phenomenon of fake news and that the Arab media is serious about countering this problem.