Islamabad: Pakistan and Saudi Arabia are strengthening their economic and trade ties with new investment agreements and business collaborations across multiple sectors. The developments came during a series of high-profile meetings in Jeddah, where Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, engaged with Saudi business leaders and investors.
Albaik Expands to Pakistan
One of the key announcements was the expansion of Saudi fast-food giant Albaik into Pakistan, with the process now in its final stages following the signing of a Memorandum of Understanding (MoU).
During his visit, Minister Jam Kamal Khan met Albaik’s owner, Rami Abu Ghazala, and was given a tour of the company’s operations, where he interacted with Pakistani employees working at Albaik. The first Albaik outlets in Pakistan are expected to open soon, generating new job opportunities and strengthening Pakistan-Saudi business ties. The Minister welcomed Albaik’s entry into Pakistan, noting its potential to boost the fast-food industry and enhance consumer choice.
Beyond Albaik, discussions centered on expanding Saudi investment in Pakistan across energy, agriculture, IT, healthcare, infrastructure, and consumer goods. The Minister highlighted Pakistan’s 22% export growth to Saudi Arabia, reaching $700 million, and assured Saudi investors of a business-friendly environment, including tax exemptions, investor protection laws, and access to a 240-million-strong consumer market.
Saudi business leaders expressed strong interest in construction materials, textiles, and the food industry, with several proposals discussed to enhance trade and industrial investment. The Minister invited Saudi firms to visit Pakistan and participate in major trade exhibitions, such as:
The meetings also covered Pakistan’s recent business-friendly reforms, including the Pakistan Single Window (PSW) and the National Compliance Centre, which aim to simplify trade regulations and improve export standards.
In another significant engagement, Minister Jam Kamal Khan met Pakistani investors and business leaders in Jeddah, acknowledging their long-standing contributions to Saudi Arabia’s economy. He noted that 1.7 million Pakistanis traveled to Saudi Arabia in the last five years, making it the top destination for Pakistani emigrants.
Strengthening Financial & Business Relations
The Minister highlighted that Pakistani expatriates in Saudi Arabia sent $7.4 billion in remittances last fiscal year, emphasizing the strong economic link between the two nations. He also praised the Pakistan Investor Forum in Jeddah, which plays a key role in guiding new investors and fostering Pakistani-Saudi business partnerships.
Encouraging Pakistani investors to explore business opportunities in Pakistan, the Minister pointed out the country’s Revised Visa Policy, which now allows GCC citizens to enter Pakistan visa-free for up to 90 days, making business travel easier.
Minister Jam Kamal Khan’s engagements in Jeddah reaffirmed Pakistan’s commitment to strengthening trade ties with Saudi Arabia. With growing Saudi interest in Pakistani industries, rising trade volumes, and new business partnerships, the Pakistan-Saudi economic corridor is poised for further expansion, creating new opportunities for businesses and investors in both nations.
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