Karachi, October 16, 2020 (PPI-OT):A meeting was held on 15th October 2020 by Trade Development Authority and Minister (Trade and Investment) of Pakistan in Kingdom of Saudi Arabia with members of Chain Store Association of Pakistan to discuss and explore potential of Saudi Market. Representatives from leading chain stores of Pakistan, i.e., Imtiaz, Naheed, Chase up Karachi and Swera Lahore as well as former President of Lahore Chamber of Commerce and Industry attended the meeting.
2. The Minister Trade briefed participants about huge potential for chain store business and legal/ regulatory requirements for entering the Saudi market. He highlighted that Pakistani super stores have capability to compete with the regional competitors in chain store business of Saudi market but unfortunately, attention was not given by them in the past. As a result, Pakistani products don’t find suitable place in big super markets and other regional competitors have dominated the Saudi market.
3. However, there still is a vacuum in the Saudi market which needs to be filled by Pakistani companies. Pakistan’s chain stores should see it as an opportunity to fill this vacuum through joint ventures and individual investments for capturing the market share. Pakistan produces quality product and has huge potential to cater the needs of the local Saudi market.
4. The Minister Trade and the Chain stores agreed that in order to move forward, delegation of chain stores will visit Saudi market to explore opportunity for joint ventures.
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