Friday, March 1, 2024

Pakistan chain stores to explore Saudi Arabia’s $800 billion consumer market

Pakistan’s leading chain stores have decided to tap the huge consumer market of Saudi Arabia by taking a foothold in the kingdom and providing Pakistani goods with greater exposure.

Azhar Ali Dahar, Minister of Trade and Investment at the Pakistani Embassy in Riyadh, said on Thursday: “It is unfortunate that Pakistani exporters have long neglected this huge market, focusing more on the United States and the European Union for trade and export.”

Despite being a Muslim country manufacturing halal food products, due to the absence of Pakistani retail chains in the kingdom, Pakistani brands generally remain missing in grocery stores. Officials claim that other products produced in the South Asian nation can also be marketed by these channels.

Officials have held numerous meetings in Pakistan with major chain stores, asking them to visit Saudi Arabia and explore its massive market potential.

Saudi Arabia provides aspiring firms with a $800 billion consumer market. The kingdom has the largest economy in the Middle East, ranking it among the world’s top 20 economies. According to Pakistan’s trade mission in Riyadh, Saudi Arabia’s per capita income is more than $57,000.

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