KEY POINTS
- Saudi–Pakistan Joint Business Council meeting focused on expanding bilateral trade
- Pakistan’s vast potential in energy, minerals, agriculture, technology, tourism, and real estate highlighted
- Saudi delegation head acknowledges Pakistan’s efforts to create an investor-friendly climate
- Both sides committed to transforming their longstanding relationship into a strong economic partnership
- Saudi Arabia is one of Pakistan’s largest trading partners and a major source of remittances.
- Over 2 million Pakistani expatriates live and work in the Kingdom
ISLAMABAD: Saudi Arabia has reiterated its commitment to expanding economic cooperation with Pakistan, highlighting the South Asian country’s vast potential in key sectors such as energy, minerals, agriculture, technology, tourism, and real estate.
Chairman of the Saudi-Pakistan Joint Business Council (JBC), Prince Mansour bin Mohammad Al Saud, expressed these views while speaking at the Saudi–Pakistan Joint Business Council meeting here on Wednesday.
The session focused on expanding bilateral trade, investment, and business partnerships across key economic sectors under the Saudi Vision 2030 and Pakistan’s investment-led growth framework, said a press release.
The meeting was organised under the Saudi–Pakistan Joint Business Council with the support of the Special Investment Facilitation Council (SIFC) and the Ministry of Commerce.
The Saudi delegation included senior business representatives from minerals, energy, agriculture, livestock, construction, infrastructure, tourism, and real estate sectors.
Leading Pakistani business figures and private enterprises also took part, highlighting mutual interest in enhancing economic ties between the two countries.
Investor-friendly environment
Pakistani ministers and senior officials briefed the delegation on the country’s investment policies and reforms designed to attract foreign investors.
They shared details of opportunities in SIFC’s priority sectors and emphasised the government’s efforts to ensure transparent and predictable business regulations.
The Joint Business Council acts as a platform to foster private-sector collaboration, joint ventures, and cross-industry partnerships between Saudi Arabia and Pakistan. Its goal is to facilitate sustained business engagement and strengthen long-term economic ties.
Prince Mansour bin Mohammed Al Saud acknowledged Pakistan’s reform efforts to create an investor-friendly environment.
He reaffirmed Saudi Arabia’s commitment to deepening economic cooperation with Pakistan, noting that the country holds strong potential in energy, minerals, agriculture, technology, tourism, and real estate sectors.
Pakistan’s investment facilitation framework
As part of the visit, the Special Investment Facilitation Council (SIFC) and the Ministry of Commerce organised a comprehensive briefing for the Saudi delegation.
The session highlighted Pakistan’s investment facilitation framework, recent regulatory reforms, and promising opportunities in priority sectors aligned with the development goals of both countries.
The delegation is also scheduled to visit Karachi and Lahore, where meetings with provincial governments and leading business groups will take place.
These engagements aim to explore potential joint ventures and public–private partnership projects across various sectors, strengthening investment ties at both regional and national levels.
The visit marks a key step in aligning Pakistan’s investment agenda with Saudi Vision 2030. It underscores the shared objective of strengthening regional connectivity and promoting sustainable economic growth.
Pakistan-Saudi economic framework
The meeting concluded with a mutual commitment to transform longstanding bilateral relations into a forward-looking economic partnership, led by private-sector collaboration and new trade opportunities.
Both sides reaffirmed their resolve to build a stable and mutually beneficial economic framework for the future.
The Saudi delegation arrived in Islamabad on Monday for an official visit aimed at expanding bilateral trade and investment cooperation between the two brotherly nations.
The visit underscores the deep-rooted, fraternal relations between Pakistan and the Kingdom of Saudi Arabia, reflecting their shared commitment to transforming traditional cooperation into diversified economic, trade, and investment linkages.
Saudi Arabia remains one of Pakistan’s largest trading partners, a key supplier of petroleum products, and home to over two million Pakistani expatriates who contribute significantly through remittances.
Both countries view this engagement as part of a broader shift toward mutually beneficial economic integration, where Saudi investment and expertise support Pakistan’s structural reforms, and Pakistan’s market and skilled workforce contribute to Saudi Arabia’s economic diversification objectives.
