Islamabad, May 5, 2024 – A significant stride towards enhancing bilateral economic relations between Saudi Arabia and Pakistan was marked by the arrival of a high-profile Saudi trade delegation in Islamabad on Sunday.
The delegation arrived in Islamabad, comprising 50 members and led by Deputy Investment Minister of Saudi Arabia, Ibrahim Almubarak, was warmly received at Noor Khan Air Base by Pakistan’s Minister for Commerce, Jam Kamal Khan, and Petroleum Minister, Musadik Masood Malik.
This three-day visit underscores a proactive approach by both nations to tap into diverse trade and investment opportunities, aiming to bolster economic ties and promote mutual growth. The Ministry of Commerce, in a press release, outlined the delegation’s schedule and objectives, highlighting planned Business-to-Business (B2B) meetings with notable Pakistani companies.
Minister Jam Kamal Khan articulated that the visit would focus on fortifying the trade relations between investors from both countries and exploring potential investments in key sectors of Pakistan’s economy. “Our goal is to identify and leverage investment opportunities that will not only foster employment but also enhance our export capacities,” stated Khan.
The series of B2B meetings are meticulously planned to cover a broad spectrum of sectors, including agriculture, mining, human resources, energy, chemicals, and maritime activities. Moreover, broader discussions are anticipated to explore investments in the fields of refineries, information technology, religious tourism, telecommunications, aviation, construction, as well as water and power generation.
The Minister expressed optimism about the outcome of these engagements, anticipating that the collaborative efforts of leading Pakistani and Saudi companies could culminate in substantial business and investment agreements. These agreements are expected to pave the way for enhanced economic cooperation and strengthen the bilateral relations between Saudi Arabia and Pakistan.
With around 30 Saudi companies represented across various sectors, the delegation’s visit is seen as a vital opportunity for Pakistani businesses to present their proposals and establish fruitful partnerships. This initiative not only signifies the strengthening of economic ties but also aligns with Pakistan’s strategic goals to boost its economy through foreign investment and trade facilitation.
The arrival of such a high-level trade delegation is a testament to the growing economic partnership between the two nations, reflecting a mutual commitment to explore new avenues for collaboration and development. As the meetings progress over the next few days, both nations await the promising prospects that this visit could unleash for bilateral trade and economic enrichment.
