Islamabad May 5 2024: A 50-member high-level Saudi trade delegation led by the Deputy Investment Minister of Saudi Arabia, Ibrahim Almubarak, arrived here on Sunday with the aim of exploring various avenues of trade and investment to further strengthen and promote bilateral relations between the two countries.
Upon their arrival at Noor Khan Air Base, the Saudi dignitaries were welcomed by Minister for Commerce Jam Kamal Khan and Petroleum Minister Musadik Masood Malik, said a press release issued by the Ministry of Commerce.
Minister for Commerce Jam Kamal Khan highlighted that the three-day visit of the Saudi delegation geared towards enhancing trade relations between investors from both countries and identifying trade and investment opportunities across various sectors of Pakistan’s economy.
He said that the Ministry had selected numerous Pakistani companies in relevant sectors for Business-to-Business (B2B) meetings with their Saudi counterparts, adding that leading Pakistani companies would collaborate with 30 Saudi companies across different sectors.
The B2B meetings will specifically target sectors such as agriculture, mining, human resources, energy, chemicals and maritime. Moreover, discussions will extend to investment prospects in other sectors including refinery, IT, religious tourism, telecom, aviation, construction, water and power generation, he said.
The minister emphasized that the objective of these discussions was to identify investment opportunities that would generate employment and boost exports between the two countries. He also noted that local companies would present their business and investment proposals to their Saudi counterparts.
The minister expressed optimism that several companies would be able to finalize business and investment deals during the B2B session, fostering greater economic cooperation between Saudi Arabia and Pakistan.
