ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked investors from Saudi Arabia to focus on Pakistan`s energy and food processing sectors.

`Our energy sector offers great opportunities and matchless returns.

Thar coal is particularly of importance,` said the acting president of the FPCCI, Shaukat Ahmed, while talking to a delegation of businessmen accompanying visiting Saudi Crown Prince Salman bin Abdul Aziz here on Sunday.

`The relations between Pakistan and Saudi Arabia have steadily grown irrespective of changes in government and we have reason to believe that the ties would follow a new trajectory,` he remarked.

Mr Ahmed said that trade with Saudi Arabia constituted nine per cent of Pakistan`s overseas trade and the former hosted about two million Pakistanis sending billions of dollars in remittances to their home countrywhich helped reduce the budget deficit.

Praising the kingdom`s assistance in two major hydropower projects in Pakistan, he invited Saudi investors to invest in different sectors, including energy and food processing sectors.

Though Pakistan was a major producer of different food items, only four to five per cent of the milk produced in the country and a fraction of its meat, date and other items were processed, he said, and proposed that the two countries should collaborate in engineering, services and training sectors.

Mr Ahmed said that bilateral trade was increasing and hit $4.7 billion in 2013 but Pakistan`s share stood at only $488 million. The country exported textiles, rice, meat, fish, spices, food and vegetables to Saudi Arabia.

He drew attention of the Saudi investors to the high-quality Pakistani medicines, cement and other industrial products and calledfor country-specific and single-country exhibitions in Saudi Arabia. He underlined the need for frequent exchange of trade delegations between the two countries.

`All Pakistani sectors are open to foreign investment, except some specified industries. We ensure equal treatment to local and foreign investors. Hundred per cent foreign equity and full remittance of capital, profit and dividends are allowed,` he said.

The head of the Saudi delegation and chairman of the Saudi-Pakistan Business Council, Ali Abdullah Ali al Munajem, said the Saudi investors wanted to make heavy investments in different sectors in Pakistan and remained ready to facilitate Pakistani investments in the kingdom.

Asking Pakistani businessmen to explore the Saudi market, he said that Pakistani items were popular in his country.

The joint secretary of the commerce ministry, Fazal Abbas Maken,said that Pakistan was gateway to China, Afghanistan and Central Asia.

He said it offered around 37 per cent annual return in shares in the Karachi Stock Exchange and its labour force comprising 57 million people offered matchless opportunities.

Earlier, the secretary general of the Committee for International Trade, Council of Saudi Chambers of Commerce and Industry, Omar A.

Bahlaiwa, gave a presentation on the investment opportunities in his country Deputy Head of Saudi Embassy`s Trade Mission Jassim M. al Khalidi, Commercial Attaché of Pakistan Embassy in Riyadh Waseem Hayat Bajwa, FPCCI Vice President Munawar Mughal, Islamabad Chamber of Commerce and Industry President Shaban Khalid, members of the Pakistan-Saudi Joint Chamber of Commerce and officials of the commerce ministry were present on the occasion.-APP