By Recorder Report
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KARACHI: President of the United Business Group (UBG) Zubair Tufail has said that UBG and FPCCI will fully support and collaborate with the government in all efforts aimed at enhancing private-sector linkages and deepening business cooperation between Pakistan and Saudi Arabia.
Welcoming the Prime Minister’s Mian Shehbaz Sharif successful visit to the Kingdom of Saudi Arabia and the signing of a mutual defense agreement between the two nations, he said the visit has further cemented the longstanding relationship between the two brotherly countries.
He said that the agreements and memoranda of understanding signed during the visit will not only deepen mutual trust but also lay a solid foundation for expanding bilateral trade, economic cooperation, investment, and joint ventures.
Citing trade and investment figures, Tufail stated that Saudi Arabia’s net foreign direct investment (FDI) in Pakistan currently stands at USD74.5 million. Pakistan’s imports from Saudi Arabia are valued at USD4.5 billion, while its exports to the Kingdom total approximately USD710 million.
He emphasised the need to strengthen linkages between the business communities of both countries through their respective federations and proposed the organization of single-country exhibitions in each other markets to boost trade and commercial visibility. “With the renewed commitments made during this visit, we can expect significant growth in bilateral trade and investment in the coming years,” he said. “Strengthening economic and trade relations will not only benefit both countries but also contribute to regional stability and prosperity.”
Zubair Tufail further noted that Pakistan’s military and political leadership are united and committed to the country progress and prosperity, with the business community playing a proactive role in supporting this vision.
Copyright Business Recorder, 2025
