ISLAMABAD – Prime Minister Shehbaz Sharif announced signing agreements worth over $2 billion with Saudi delegation led by Investment Minister Khalid bin Abdulaziz Al-Falih who is due in Asian nation from October 9-11.
PM shared the development in a cabinet meeting as he expressed confidence in agreements’ potential to enhance Islamabad’s economic landscape. He also stressed importance of these agreements and vowed not to allow any disruption of efforts to strengthen the economy.
Saudi delegation is visiting Pakistan as both Islamic nations are working to deepen trade and investment cooperation.
Saudi Crown Prince and Prime Minister Mohammed bin Salman also reaffirmed Kingdom’s commitment to expedite a $5 billion investment package. The country of 242 million is keen to enhance collaboration in trade, defense, and energy sectors, particularly with Arab nations.
The establishment of Special Investment Facilitation Council (SIFC) further aims to streamline investment processes and attract foreign capital to vital economic sectors.
Pakistan and Saudi Arabia hold strong business ties rooted in historical and cultural connections. Riyadh remains major investor in Pakistan, especially in energy and construction, and bilateral trade is growing, with Pakistan exporting textiles and rice.
Kingdoms’s Vision 2030 also opens new opportunities for Pakistani businesses in sectors like tourism and technology, further solidifying their economic partnership.
Pakistan, Saudi Arabia explore enhanced Cooperation to boost ties
