MARKET ANALYSIS

6 PAKISTANI FIRMS TO EXPORT MEAT TO SAUDI ARABIA

The government is working on boosting the exports of halal meat and other perishable and non-perishable commodities to the Kingdom of Saudi Arabia for further enhancing the economic ties between the two nations, as said by a senior official. The federal cabinet has recently approved the export of livestock to Middle Eastern countries, especially Saudi Arabia and the United Arab Emirates, to earn foreign exchange and boost farmers’ profitability. “Our 6 meat exporting companies have recently registered with the Saudi Food and Drug Authority, removing a major barrier in our way to export to Saudi Arabia,” Aliya Hamza Malik, parliamentary secretary for commerce, industries, and production, told. Islamabad’s exports to Riyadh increased to $446 million in 2019-20 from $342 million in 2018-19 which PM Khan’s government described as a “great achievement.” Malik said that Pakistan’s exports to Saudi Arabia registered a major increase during the coronavirus pandemic when the country’s overall international trade had declined. Pakistan’s export-led industry got a boost when Saudi Crown Prince Mohammed bin Salman visited Islamabad in February last year along with the business delegations and vowed to enhance trade between the two countries. Pakistan has also upgraded its trade mission in Saudi Arabia to boost its exports after clearing all barriers, including registration of firms in the Kingdom.