Prime Minister Shehbaz Sharif on Tuesday said that the visit of Saudi investment delegation to Islamabad was a significant headway in the relationship between Pakistan and Saudi Arabia.
The prime minister, chairing a meeting of the federal cabinet, appreciated the federal ministers, government officers and staffers for their efforts to ensure the success of the Saudi delegation’s visit, a PM Office press release said.
Shehbaz said that the head of Saudi delegation was appreciative of the determination and preparation demonstrated by the cabinet members during the investment conference.
The purpose of the visit is to enhance trade ties between investors from both countries and identify trade and investment opportunities across various sectors of national economy.
The Commerce Ministry picked several Pakistani companies for business-to-business (B2B) meetings with the Saudi investors and disclosed that “leading” Pakistani companies would collaborate with at least 30 Saudi companies across different sectors. During the meetings, local companies will present their business and investment proposals to their Saudi counterparts.
The B2B meetings will target sectors, such as agriculture, mining, human resource, energy, chemicals, and maritime. Moreover, discussions will also cover investment prospects in other sectors, including IT, religious tourism, telecom, aviation, construction, water and power generation.
Meanwhile, the federal cabinet, on the recommendation of the Ministry of Aviation, accorded approval to Air Sial to launch its flight operations for China, Malaysia, Sri Lanka, Thailand, Turkiye, the UK and Kuwait.
The approval was granted under the National Aviation Policy 2023 and Air Services Agreement.
The cabinet gave a nod to the signing of Memorandum of Understanding for formation of Joint Trade Committee between Pakistan and Kingdom of Columbia.
