Saudi High-Ranking Business Delegation Arrives In Pakistan

A delegation from Saudi Arabia is set to arrive in Pakistan on Sunday to explore investment opportunities across various economic sectors. Islamabad and Riyadh, known for their robust cultural, religious, and economic ties, have recently witnessed a series of official visits.

In April, Saudi Foreign Minister Prince Faisal bin Farhan visited Islamabad, followed by Prime Minister Shehbaz Sharif’s attendance at a World Economic Forum meeting in the Kingdom, where he met Saudi officials, including the crown prince.

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Led by a Saudi Deputy Investment Minister, the delegation comprises 35 companies and their CEOs. The focus of Pakistan’s relationship with Saudi Arabia is shifting from aid and assistance to mutual progress and development.

Discussions between the two nations have included plans for a new refinery project for export purposes and bolstering food security in Pakistan. Prime Minister Sharif seeks to empower the private sector to drive Pakistan’s development and has encouraged Saudi investors to collaborate with local companies, particularly in the IT sector. Minister Malik has highlighted potential collaborations in the chemical, energy, and agricultural sectors, with optimistic prospects for small businesses and young entrepreneurs in Pakistan.

Saudi Arabia holds significance for Islamabad due to its large Pakistani expatriate community and its status as the country’s top source of remittances. Both nations remain committed to enhancing bilateral trade and investment, with Saudi Arabia reaffirming its commitment to a $5 billion investment package for Pakistan.