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Pakistan and Saudi Arabia: The dawn of a new era

Pakistan and Saudi Arabia The dawn of a new era
Pakistan and Saudi Arabia: The dawn of a new era

2019-02-15 00:00:00 - Source: Baghdad Post

Adnan Hassan

For strategic reasons, countries around the world often

declare their special affection for each other. References are made to

cultural, religious, geopolitical, and other ties, to show why two peoples are

bound together, and leaders make speeches as well as bestow each other with

gifts. Unfortunately, in some cases, despite this declaration, events happen

that cool affections. When sentiments heal, the cooling-off disappears. This

“see-saw” of relationships between countries is difficult for many, especially

investors who need predictability in plans. How can policymakers create greater

stability in relations? How can they make relationships more durable? How can they

broaden and deepen inter-country affection?

Entrepreneurs could provide an answer.

Pakistan and Saudi Arabia

In the case of the Islamic Republic of Pakistan and the

Kingdom of Saudi Arabia, relations have generally been rather steady. The close

and extremely friendly relationship between the two countries is built on

interests. But despite the long and successful history of a “special

relationship,” the core of the Pakistani-Saudi relationship has remained narrow

and need-based. It has focused on geopolitical security, complemented by

expatriate labor and religious tourism in the form of Umrah and Hajj pilgrims

from one side, and financial aid from the other.

History shows that state relationships are more resilient if

they are built on full potential and add “surplus value.” This means they

harness the full potential in each other’s countries, and turn “1+1” into more

than just two. To accomplish this, multiple elements must do the hard work to

deepen ties. A critical element is commercial bonds that can be developed

between entrepreneurs, businesspeople and other private sector members of both

countries. These bonds should be strengthened in strategic interests wherever

possible.

Between Pakistan and Saudi Arabia, various commissions,

councils, trade bodies, etc. have been created for this purpose but they have

mostly not been successful. The reasons are many, but include efforts that are

not focused on the “bottom line” and depend on the whims of who is in power.

True entrepreneurial thinking was also not brought to the task. In some cases,

well-meaning diplomats and bureaucrats talk about promoting private sector

involvement. But many of these officials are not entrepreneurs. In some cases,

they are even skeptical of the profit motive. At best, they can create enabling

conditions but they cannot drive actual commerce.

Times are changing in both countries. There is a renewed

vigor to revisit the core foundation of the relationship between Pakistan and

Saudi Arabia, and to broaden it. This is exemplified by the upcoming visit of

Crown Prince Mohammed bin Salman to Pakistan, following earlier visits of Prime

Minister Imran Khan to Saudi Arabia. Both leaders have championed

transformative visions for their country’s future under the “Naya Pakistan” and

“Vision 2030” initiatives respectively. The talk between the leaders is now

more about investment than aid; albeit still state-to-state investment, and

one-way. To build on this momentum, it is time to think about “out of the box”

ideas that fully leverage the potential of both our people.

The engagement of entrepreneurs

As noted earlier, much of the interaction between Pakistan

and Saudi Arabia has hovered around security, low cost labor, pilgrims, and

aid. But there is sophisticated professional interaction between Pakistani and

Saudi citizens. This has occurred in the fields of finance, technology,

engineering, consulting and medicine, etc. This professional interaction is

even more common among the younger demographic in both countries, and has happened

between Pakistanis and Saudis, both in the Gulf and in the West – where many of

the next generation have studied. There is untapped potential in this

interaction that needs to be translated into a common framework for

collaboration. It should draw on the outlook of a new generation exposed to

global standards and the highest expectations of excellence.

A more deal-oriented approach is needed that focuses on

opportunities for private sector cooperation between Pakistan and Saudi Arabia

to go along with the official investment activity. A new generation of

entrepreneurs from both sides need to be brought to the table. This includes

men and women with global standing and a world class professional outlook –

most likely those Pakistanis and Saudis who have already studied, traveled or

done business outside their respective home countries.

People that profit together, stay together. One innovative

approach is to “toss” together a generation of Pakistani and Saudi men and

women into a 2-3 day “entrepreneurial hackathon.” Such events are used the

world over to catalyze new ideas. The entrepreneurial hackathon could even be

supported by a venture/start-up capital fund, in the form of a “Pakistan Saudi

Entrepreneurs Fund.” The fund would look for bankable opportunities with a

focus on both impact and return. Such a fund would require Pakistani and Saudi

entrepreneurs to look for partners from the other country to pair up as they

propose ideas. Even the pitching could be part of a “Shark Tank” type of

reality TV show, where investors evaluate pitches, and then invest in the best

ideas. The goal is to establish opportunities for entrepreneurs of both

countries to profit together – in each other’s countries, or even in third

countries. Such an approach harnesses the potential of entrepreneurs to broaden

and deepen stability in relations between both countries. And it also supports

both “Naya Pakistan” and “Vision 2030.”

The upcoming visit of HRH Crown Prince Mohammed bin Salman

should be the dawn of a new era between Pakistan and Saudi Arabia. Through the

rewards of entrepreneurship, we can move our relationship from the limitation

of need to the openness of potential. The time to act has arrived.





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