ISLAMABAD: Saudi investors, in the wake of their recent visit to Pakistan as members of Crown Prince Muhammad bin Salman’s entourage, have invited Pakistan Furniture Council (PFC) to deliberate upon the possibilities of trade enhancement, and to sign possible joint ventures in the furniture sector.
According to a press release issued by the council, PFC Chief Executive Mian Kashif Ashfaq, while chairing a meeting on Tuesday, apprised the participants of this latest development. He termed this a big achievement towards enhancing the exports and strengthening the local furniture sector.
He said it was decided in principle that a framework would be outlined to enhance mutual cooperation and joint ventures, adding that “this invitation is another step forward towards achieving this goal”.
The PFC chief said that it would be a golden opportunity for the country’s furniture producers and exporters to strengthen their business ties with their Saudi Arabian counterparts. “PFC will negotiate with the Saudi investors to get maximum space and facilitation for Pakistani handmade furniture,” he added.
Mian Kashif said that a high-level delegation would be constituted soon for the forthcoming visit to Saudi Arabia.
“Saudi Arabia is a big deal for Pakistani furniture producers after UAE, as there exists a great potential for furniture trade enhancement given the fact that Pakistani handmade traditional furniture is in demand in the international markets,” he added.
He underscored that there should be a regular exchange of meetings between the investors and businessmen, as it would open up new avenues of investment and would further boost the relations between the two brotherly countries.
He said the two-way trade volume between Pakistan and Saudi Arabia, which is just $3.6 billion, could be increased up to $10 billion if steps are taken in the right direction.
