A high-level Saudi business delegation, headed by Assistant Minister of Investment Ibrahim Al-Mubarak, has arrived in Pakistan to explore investment prospects across various economic sectors. The delegation, comprising 50 members, was received by Pakistani Commerce Minister Jam Kamal Khan and Petroleum Minister Musadik Malik upon their arrival at Nur Khan air base in Rawalpindi.
The three-day visit aims to bolster trade relations and foster business collaborations between investors from both countries. Pakistan’s commerce ministry has organized business-to-business (B2B) meetings between Pakistani and Saudi companies in sectors such as agriculture, mining, energy, and maritime, among others. Additionally, discussions will encompass opportunities in information technology, religious tourism, aviation, and construction.
Emphasizing the significance of the visit, Minister Khan highlighted the potential for job creation and export promotion resulting from investment partnerships between Saudi and Pakistani firms. The visit underscores the strong bilateral ties rooted in shared cultural, religious, and economic cooperation.
Recent official visits between Saudi Arabia and Pakistan, including Prince Faisal bin Farhan’s trip to Islamabad and Prime Minister Shehbaz Sharif’s attendance at a World Economic Forum meeting in the Kingdom, signify the growing momentum in bilateral engagements.
Speaking ahead of the delegation’s arrival, Pakistani Petroleum Minister Musadik Malik emphasized the shift in focus from seeking financial assistance to pursuing mutually beneficial progress and development in bilateral discussions. Both countries are committed to enhancing bilateral trade and investment, with Saudi Arabia reaffirming its commitment to a $5 billion investment package.
The collaboration is expected to benefit small businesses, particularly technology firms established by young entrepreneurs in Pakistan, who stand to receive significant investment from Saudi counterparts. This visit marks a significant step toward strengthening economic cooperation and fostering prosperity between Saudi Arabia and Pakistan.
