RIYADH: Pakistan has conferred upon the nation’s second-highest civil award, Hilal-e-Pakistan, on the Commerce Minister of Saudi Arabia, Majid Al-Kassabi, for his contributions to enhancing bilateral trade ties between the two countries.
Pakistan’s Ambassador to Saudi Arabia, Ahmad Farooq, conferred the award in Riyadh, Saudi Press Agency (SPA) reported on Sunday.
During a meeting, Al-Kassabi and the Pakistani ambassador also explored ways to enhance trade ties between the two countries.
The award highlights the longstanding partnership and robust trade relations between the Kingdom and Pakistan, serving as a catalyst to further strengthen bilateral cooperation for the benefit of both nations and their peoples.
Pakistan and Saudi Arabia have long enjoyed close ties but have sought to broaden cooperation in recent months.
Islamabad and Riyadh agreed to launch an Economic Cooperation Framework to strengthen trade and investment ties, following Prime Minister Shehbaz Sharif’s meeting with Saudi Crown Prince Mohammed bin Salman on the sidelines of the Future Investment Initiative summit in Riyadh in October last year.
A Saudi business delegation led by Prince Mansour bin Mohammed bin Saad Al Saud, chairman of the Saudi-Pakistan Joint Business Council, visited Pakistan last year in October to expand trade and investment ties.
A similar visit by representatives of Saudi companies from the agricultural, mining, tourism, industry, and manpower sectors in October 2024 resulted in 34 MoUs worth $2.8 billion between the two sides.
In a meeting with Prime Minister Shehbaz Sharif in April 2024, Saudi Commerce Minister Majid Al Kasabi said Pakistan was the Kingdom’s “priority” for investment and trade as per the directives of Crown Prince Mohammed bin Salman.
Saudi Arabia remains Pakistan’s largest source of remittances and hosts more than 2.5 million Pakistani expatriates, highlighting the depth of economic and people-to-people ties between the two countries.
Pakistan and Saudi Arabia have been expanding their bilateral trade, with trade volume rising from about $546 million to $700 million, reflecting stronger economic cooperation between the two countries.
Pakistan is actively pursuing stronger trade ties with Saudi Arabia by exploring investments in key areas such as oil and gas, renewable energy, and infrastructure to boost its export base.
