KARACHI: A high-level Saudi trade delegation will visit Pakistan next month to explore mutual trade opportunities, the Karachi Chamber of Commerce and Industry has said, as both countries work to enhance bilateral trade which currently stands at a meager $3.5 billion.
Saudi Arabia and Pakistan are historically close allies. In February, the two countries signed short-, mid- and long-term investment agreements worth $21 billion during the visit to Islamabad of Saudi Crown Prince Mohammed bin Salman.
“A Saudi delegation comprising around 32 members is coming to Pakistan in July to hold talks with local companies and explore avenues to increase bilateral trade,” Junaid Makda, the president of the Karachi Chamber of Commerce and Industry KCCI, told Arab News.
A report released by the Research and Policy Division of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said Pakistan mainly imports petroleum products, plastic goods, organic chemical and fertilizer from Saudi Arabia and exports cereals, meat, textile, beverages, edible fruit and vegetable to Saudi Arabia.
In an email sent to various trade bodies earlier this month, the Saudi Trade Mission in Pakistan had said the Saudi Exports Development Authority was planning to send to Islamabad an “outbound trade mission for Saudi companies in two sectors, Food and Petrochemical.”
“More than 25 Saudi companies in those two sectors will come to Pakistan and meet their Pakistani counterparts which are interested in importing Saudi products,” the email read. “Saudi companies are very competitive in those two sectors and they can provide Pakistani companies with high quality products.”
“We will hold meetings with the Saudi delegation on the prospects of import of Saudi goods, mainly petroleum products and food items, which are cost effective for Pakistan,” Makda said.
“Petroleum is their [Saudis] natural resource so they will give us petrochemical products and Pakistan will export textile products to Saudi Arabia,” he added. “They are saying that petrochemical products, tiles and food items are cheaper in the Kingdom.”
Saudi Arabia has sought help from trade bodies in Pakistan to nominate the companies interested in participating in the trade talks with their Saudi counterparts next month.
The FPCCI report suggested that Pakistan and Saudi Arabia should sign a bilateral investment treaty to remove complex investment procedures and avoid taxation complications. It also identified trade barriers such as compliance of standards, lack of information and lack of commercial activities between both nations.
“Having a bilateral investment treaty will make the investment cooperation rules clear and transparent not just for existing but potential investors,” economist Vaqar Ahmed said. “The issue of double taxation can also be resolved through such a treaty. Furthermore, it will be possible to create investment value chains across both countries.”
“Business persons on both sides could also focus on non-traditional sectors where there exists large potential for joint ventures,” Ahmed added. “This could include information technology and several services-based sectors. Such a treaty could help lure investment from Saudi Arabia into Pakistan’s priority special economic zones.”
The FPCCI report also suggested that Pakistan and Saudi Arabia should formulate a strategy for mutual recognition of standards for exports of surgical instruments, food items and pharmaceutical goods given the huge demand for these products in Saudi Arabia.
Both the nations should formulate a mechanism to reduce non-tariff measures which are faced by Pakistan in exporting agriculture products to Saudi Arabia, the report said.
The report added that there was potential for Pakistan to enhance its exports to Saudi Arabia in textile, pharmaceutical, rice, sea food, meat, edible fruits and vegetable, dairy products, leather goods and information technology.
The FPCCI also suggested the activation of a Joint Business Council between both countries and the holding of business people-to-people contact, formulation of trade delegations and participation in trade fairs. The Trade Mission of both nations should also play their due role in the enhancement of bilateral trade, the report added.
Saudi delegation due in July to explore trade opportunities with Pakistan
Saudi delegation due in July to explore trade opportunities with Pakistan
- Kingdom interested in exporting petrochemical and food products to Pakistan
- FPCCI says both countries working to enhance bilateral trade which currently stands at meager $3.5 billion
Chinese giant Hoymiles enters Pakistani market to provide high-tech energy storage solutions
- The development comes after Pakistan emerges as one of world’s fastest-growing solar markets, importing nearly 50GW of solar panels
- Hoymiles entry will address long-hour backup and energy storage challenges facing Pakistan’s growing solar sector, local partner says
KARACHI: Renowned Chinese inverter manufacturer Hoymiles has entered Pakistan to provide high-tech, long-duration energy storage solutions for residential, commercial and industrial buildings by utilizing solar systems for electricity consumption, its Pakistani partner said on Monday.
Over the past few years, a large number of Pakistani industrial, commercial and residential electricity consumers have shifted to solar power systems to address frequent power outages and the rising cost of electricity. Reports indicate that net-metering capacity currently stands at 6,000 megawatts (MWs), while off-grid solar capacity has increased to 12,000 MWs in Pakistan by the end of 2025.
Hoymiles has formed strategic partnerships with Superstar, a renowned name in Pakistan’s automotive industry, and Harisun Energy, a new entrant in the energy solutions sector, to explore the Pakistani market, which is witnessing rapid growth in solar power adoption. In this regard, launch events were held simultaneously in Karachi and Lahore, unveiling multiple storage solutions produced by Hoymiles under the brands of Harisun Energy and Superstar.
Speaking as the chief guest at the Hoymiles launching ceremony in Karachi, Ali Rashid, advisor to Sindh chief minister on science and information technology (IT), said the provincial government appreciates foreign investors, particularly Chinese companies, establishing their industries, assembly, and distribution units in Karachi to meet the demand of the local market as well as export solutions to other countries.
“The government is working rigorously to facilitate foreign investors and companies to enhance their business and commercial activities, mainly in the technology and renewable energy sectors, to improve the living standards of the public and boost economic activity within the country and the province of Sindh,” he said.
The Sindh government is currently collaborating with various Chinese companies across different sectors, including logistics and renewable energy, and it welcomes further cooperation between the private and public sectors, according to Rashid.
The provincial government is considering establishing its own regulatory authority and transmission company, aimed at setting up a separate electricity grid system at the provincial level, which could provide affordable electricity to the masses and enhance connectivity to remote areas, preferably through renewable energy resources.
According to a report by the International Energy Agency (IEA), Pakistan has emerged as one of the world’s fastest-growing solar markets, importing approximately 50 GW of solar panels amid falling prices and widespread adoption across sectors in the first half of the year. This surge has made Pakistan the third-largest market for Chinese solar panels, a growth that has attracted global attention.
Superstar Solar Energy and Harisun Energy are introducing Hoymiles’ innovative range of solar inverters, energy storage solutions, and smart energy management systems to the Pakistani market. These solutions are designed to deliver reliable, efficient, and sustainable energy, empowering individuals and businesses to harness solar power as a clean and green energy source.
“Pakistan’s growing solar sector is facing a major challenge related to long-hour backup and energy storage solutions, which will soon be addressed with the entry of a global leader in energy solutions,” said Haris Jamsheed, CEO of Harisun Energy.
“Our partnership with the Chinese company will provide innovative energy storage solutions for residential, commercial, and industrial solar systems, enabling uninterrupted electricity supply at workplaces, factories, and homes during nighttime hours.”
Solarization has continued to expand across the country on a large scale due to prolonged load-shedding in remote areas and the high cost of electricity, which has become unaffordable for many households and industrial units, particularly in recent years.
“We have vowed to bring an energy revolution to Pakistan through innovative storage solutions, as the industrial and commercial sectors can enhance productivity with low-cost electricity backup systems,” said Saleem Umar, Chairman of Superstar.
“Affordable electricity will reduce operational costs at the domestic level, enabling exporters to compete more effectively in global markets.”
