Rice exporters to recapture Saudi market

[LahoreEstate]

Saturday, January 24, 2009
By our correspondent

KARACHI: A delegation of rice exporters would visit Saudi Arabia next month in a bid to capture a larger slice of the market.

A delegation of Rice Exporters Association of Pakistan (REAP) met with Saudi Arabian Consul General in Karachi Dr Hassan Attar the other day and informed him that a 16-member REAP team, headed by its Chairman Abdul Rahim Janoo, would visit the kingdom in the third week of March.

Pakistan’s share in Saudi rice market has declined to 8 per cent from a huge 54 per cent a few years ago. A REAP spokesperson said Dr Attar Hassan told the delegation they would be welcomed in Saudi Arabia as it had revised investment policy. With a minimum investment of 0.5 million Saudi riyal, anybody could buy property or start business in the kingdom without the support of any ‘kafeel’.

http://www.thenews.com.pk/daily_detail.asp?id=158781