Press Release

LCCI attaches high hopes with the visit of Saudi Crown

The Lahore Chamber of Commerce & Industry has welcomed the historic visit of Saudi Crown Prince Mohammad Bin Salman to Pakistan and hoped that it will further strengthen trade, investment and economic relations between the two brotherly Islamic countries. In a statement, the LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal said that the exemplary spiritual relations and friendship between Pakistan and Saudi Arabia is based on the strong foundation of mutual trust, respect, strong strategic partnership and economically viable cooperation. They said that relations between the two countries are entering into a new era due to back to back visits of Prime Minister Imran Khan to Saudi Arabi and now visit of Saudi Crown Prince to Pakistan.

“It is expected that Pakistan and Saudi Arabia will sign a range of agreements worth up to $ 15 billion including establishment of power plants, oil refinery, petrochemical complex etc. These agreements will pave way Foreign Direct Investment at vast scale, will generate employment opportunities while B2B contacts between the businessmen of the two countries will also be strengthened. They also lauded reduction in visitor’s visa fee from Saudi Arabia for Pakistanis.

They said that the friendship between two friends is time-tested and visit of Saudi Crown Prince to Pakistan will prove to be long-lasting.

The LCCI office-bearers said that cooperation between the two countries would be further enhanced by the implementation of agreements to be signed, during this visit. 

They said that the people of Pakistan and Saudi Arabia have strong and brotherly relations and these would further be strengthened with the exchange of such high-powered visits.

They said that there exists enormous scope to expand the economic relations between Saudi Arabia and Pakistan.

They said that Pakistan and Saudi Arabia should continue to find new avenues for the expansion of bilateral trade. They said that exchange of trade delegations is one of the most effective ways of enhancing trade. Likewise, new areas for joint ventures should be identified. Pakistan has manpower, land and technology. There can be a win-win situation for both the counties if Saudi investors team up with our local industrialists.