An Assessment of Pak-Saudi Bilateral Trade Relations (1990-2019)

Abstract

Aim of the Study: Pakistan and Saudi Arabia are Muslim brother countries with deep religious, political, geopolitical, cultural, and economic ties. Trade is vital in sovereign-state associations; thus, all states should place more weight on establishing good and mutually beneficial commercial relations. Since 1990, Pakistan's liberalized economic policies and closer political connections with Saudi Arabia have greatly enhanced trade between the two countries. This study evaluates the benefits and drawbacks of the Pak-Saudi bilateral trade relations from 1990 to 2019.

Methodology: This study utilizes a combination of quantitative and qualitative analysis. This study has explored and analyzed Pakistan and Saudi Arabia's trade relations in detail and suggested new opportunities, protentional fields of cooperation and how to strengthen the current level of trade.

Findings & Conclusion: At present, they are bilateral trade per year above 4 billion dollars. Pakistan is exporting Saudi Arabia different kinds of goods, including rice, yarn anecdote, cotton, readymade clothes, sweaters, towels, fibre goods, couch linen, mangos, shelters, art portraits, silks, artificial stuff, furniture, leather outfits, floorboards, footwear, rugs, medical equipment, sports goods, fish, different kinds of fruits, different types of vegetables, flavours and other kinds of juice etc. Pakistan's imports from the Kingdom of Saudi Arabia (KSA) are mainly petroleum, plastics, organic chemicals, leather, aluminium, Iron and steel.