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Saudi-Pakistani Business Forum Aims for Stronger Economic Ties, More Trade

The forum highlighted the growing importance of private sector collaboration in unlocking further trade potential. SPA
The forum highlighted the growing importance of private sector collaboration in unlocking further trade potential. SPA
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Saudi-Pakistani Business Forum Aims for Stronger Economic Ties, More Trade

The forum highlighted the growing importance of private sector collaboration in unlocking further trade potential. SPA
The forum highlighted the growing importance of private sector collaboration in unlocking further trade potential. SPA

The Saudi-Pakistani Business Forum kicked off on Wednesday in Riyadh under the patronage of Minister of Commerce Dr. Majid Al-Qasabi.

Organized by the Federation of Saudi Chambers and attended by key players from both countries, the forum highlighted the growing importance of private sector collaboration in unlocking further trade potential.

On behalf of the Commerce Minister, Acting Deputy Governor of the General Authority of Foreign Trade's Deputyship of Private Sector Affairs and Global Presence Fawaz bin Rafaah underscored the crucial role of private businesses in expanding trade ties.

He pointed to the Kingdom's position as Pakistan's fourth largest trading partner and lauded the efforts made to approve the signing of the Free Trade Agreement between the GCC states and Pakistan, emphasizing its potential to strengthen economic bonds.

Pakistani Federal Minister for Commerce, Industries & Investment Dr. Gohar Ejaz highlighted the Free Trade Agreement's ability to create new opportunities for investors. He noted the agreement's role in safeguarding Saudi and Gulf investments and expressed Pakistan's keenness to leverage Vision 2030 projects as a catalyst for deeper collaboration.

Ejaz further outlined Pakistan's ambitious goal of reaching $20 billion in trade exchange with Saudi Arabia, emphasizing the need for enhanced business environments and private sector engagement. He underscored Pakistan's potential as a major market for Saudi investors.

Federation of Saudi Chambers Chairman Hassan Al-Huwaizi affirmed the forum's focus on boosting investment and trade partnerships between the two countries. He showcased the positive trajectory of bilateral trade, exceeding $5.7 billion, and Pakistan's growing position as a key trading partner for the Kingdom. He envisioned broader collaboration opportunities within the framework of Vision 2030 projects.

Chairman of the Saudi-Pakistani Business Council Eng. Fahd Al-Bash outlined ongoing initiatives that have been jointly developed by investors from both countries.

The initiatives encompassed a dedicated portal for Pakistani rice importers, a technology center in Riyadh, a halal meat center in Makkah, a market for Pakistani products within the Kingdom, and joint petrochemical ventures catering to the Pakistani market.

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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.