ISLAMABAD, October 10, 2024 – A high level delegation of Saudi Arabia, led by Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh, reached Islamabad on Wednesday to pay a three-day official visit to Pakistan to strengthen trade and investment ties between the two countries.
Upon arrival at Islamabad International Airport,
The Saudi delegation was received by Federal Minister for Board of Investment, Privatisation & Communications Abdul Aleem Khan, Minister for Trade Jam Kamal Khan, and Minister for Petroleum Mohammad Musadik Malik as well as other high-ranking government officials.
The visit is likely to result in a number of agreement signings, particularly in terms of trade and MoUs, between the two countries, aimed at more economic cooperation between the two nations.
The Saudi delegation will also engage with SIFC during their visit to identify potential investment opportunities in energy, infrastructure, trade, and other areasKey Agenda and High-Level Meetings
It is considered a turning point in increasing bilateral economic cooperation between the two countries. The two governments as well as private sector representatives will conduct several rounds of negotiations. “The visit marks a significant milestone in Saudi-Pakistan investment relations. We are fully prepared for bilateral business engagements and look forward to fruitful results,” said federal privatisation minister Abdul Aleem Khan.
During this visit, the Saudi delegation will hold high-level meetings with the Pakistani leadership, which includes both President Asif Ali Zardari and Prime Minister Shehbaz Sharif, in light of discussion on various areas of cooperation, especially concerning investment and trade avenues.
There will be meetings with the Pakistani business fraternity as well since both countries are looking forward to elevating economic cooperation, mainly in the spheres of energy, trade, and technology.
Bilateral Cooperation
The visit confirms the historically close ties between Saudi Arabia and Pakistan. Both countries intend to move closer together through cooperation in the sphere of the economy. Ministers from Pakistan were very optimistic about the visit and said that it would be “result-oriented” and it would give a boost to the investment climate of the country and new avenues of cooperation would open.
Meetings with the key persons of the government and business in Pakistan will be held so that several joint ventures can be agreed on. Saudi Arabia is trying to take this opportunity through Vision 2030, while Pakistan wants foreign investment.
