Saudi Trade Delegation to Bolster Investment and Collaboration in Pakistan’s Diverse Sectors
A high-profile Saudi trade delegation is poised to land in Pakistan tomorrow, marking a pivotal moment in bilateral economic relations. Led by Petroleum Minister Musadiq Malik, this delegation comprising 50 members and representing approximately 35 Saudi companies aims to delve into lucrative investment prospects across various sectors while fostering robust partnerships with local entrepreneurs.
Minister Malik highlighted the significance of this visit, emphasizing the expansion of cooperation between Islamabad and Riyadh at both governmental and private enterprise levels. With 76 Pakistani companies shortlisted for potential collaborations, the stage is set for impactful business-to-business engagements that could culminate in substantial investment deals.
Central to this dialogue is the Pak-Saudi Investment Conference, which will serve as a forum for exchanging ideas and exploring avenues for mutual growth. Saudi Arabia’s transition from an oil-centric economy to a diversified, competitive landscape, as envisaged in Vision 2030, opens doors for synergistic partnerships with Pakistan across multiple industries.
Currently, bilateral trade stands at $2,482.37 million for the first half of the fiscal year, with Pakistan exporting $262.58 million and Saudi Arabia exporting $2.219 billion. With a focus on reducing oil dependence and broadening trade horizons, this delegation signals a promising chapter in the economic relationship between the two nations.
