A prominent Saudi business delegation, led by Investment Minister Khalid bin Abdulaziz Al-Falih, has arrived in Islamabad for a three-day visit focused on finalizing $2 billion in business-to-business (B2B) investment proposals. The delegation, comprising 130 members from various sectors such as energy, mining, agriculture, tourism, and industry, was welcomed at Noor Khan Airbase by Petroleum Minister Musadik Malik and Commerce Minister Jam Kamal Khan.
This diplomatic visit, occurring ahead of the Shanghai Cooperation Organization (SCO) Summit next week, seeks to enhance economic collaboration between Saudi Arabia and Pakistan. The visit, confirmed by the Foreign Office, is set to take place from October 9 to 11.
Deputy Prime Minister Ishaq Dar highlighted the importance of the visit during a ceremony in the capital, stating, “The Saudi Minister for Investment will finalize several B2B proposals estimated to exceed $2 billion.” He expressed appreciation for Saudi Arabia’s consistent support amid Pakistan’s recent economic challenges, emphasizing the Kingdom’s vital role in helping the nation regain stability.
“The two countries are on a path to forge even closer strategic cooperation,” Dar noted, stressing the need to maintain momentum in bilateral relations to achieve the vision of prosperous states.
In recent months, both nations have actively worked to boost bilateral trade and investment. Earlier this year, Crown Prince Mohamed bin Salman reaffirmed Saudi Arabia’s commitment to expedite a $5 billion investment package for Pakistan.
As Pakistan seeks deeper cooperation in trade, defense, energy, and other sectors, this visit marks a crucial step towards recovering from a prolonged economic crisis that has severely affected its foreign exchange reserves and currency stability.
