A significant Saudi delegation, led by Deputy Investment Minister Ibrahim Almubarak, has landed in Islamabad for a three-day visit focused on exploring investment opportunities. Pakistan is keen on attracting foreign investments, particularly from Saudi companies, to bolster its exports and economic growth.
The delegation received a warm welcome from Commerce Minister Jam Kamal and Petroleum Minister Musadik Malik upon arrival at the Nur Khan airbase, as reported by the Ministry of Commerce. The visit aims to strengthen trade ties and identify investment prospects across various sectors of the Pakistani economy.
Minister Kamal highlighted that selected Pakistani companies will engage in business-to-business (B2B) meetings with Saudi investors. Leading Pakistani firms will collaborate with around 30 Saudi companies across sectors such as agriculture, mining, energy, chemicals, and maritime. Discussions will also encompass IT, religious tourism, telecom, aviation, construction, water, and power generation.
The minister expressed optimism about potential business and investment deals during these meetings, fostering deeper economic cooperation between Saudi Arabia and Pakistan. This visit follows Prime Minister Shehbaz Sharif’s recent meetings with Saudi Crown Prince Mohammed bin Salman, signaling a positive trajectory in bilateral economic relations.
In addition to the delegation’s visit, a two-day Pakistan-Saudi Arabia investment conference commences today, aimed at boosting bilateral trade and investment for mutual growth and prosperity. Saudi Arabia’s economic transformation under Vision 2030 is also highlighted, emphasizing a shift towards reducing oil dependence, diversifying income sources, and enhancing competitiveness.
Bilateral trade figures show promise, with Pakistan’s major exports to Saudi Arabia including rice, bovine meat, fruits, vegetables, tents, and camping goods. The visit and conference are integral steps towards realizing the envisioned economic collaborations between the two nations.
Story by Syed Irfan Raza
