Islamabad: Pakistan plans to discuss the signing of a Preferential Trade Agreement (PTA) with the Kingdom of Saudi Arabia (KSA), during Saudi Crown Prince Mohammad bin Salman’s visit to the capital, according to a news source. This move will promote bilateral trade and coordination between the two countries.
The talks will be initiated during the Prince’s two-day visit to Islamabad starting from February 16. A high-powered business delegation will accompany the royal guest on this trip.
Officials revealed that this PTA will cover tariff and non-tariff barriers, and will aim to diversify Pakistan’s portfolio of exports to the kingdom. If the agreement is signed, KSA will be the second country after Iran to have a formal PTA arrangement with Pakistan.
Other pertinent issues will also be discussed. These include the ban on shrimp exports to KSA from Pakistan, and the increase in the business visa fee imposed by the Gulf kingdom.
