Saudi Arabia committed to Pakistan’s economic growth, says KSA envoy
- Finance Division says ambassador has indicated that a Saudi business delegation could visit Pakistan in coming months to explore areas for joint ventures, collaborative investments
Nawaf Bin Said Al-Malki, Ambassador of the Kingdom of Saudi Arabia, on Wednesday reiterated the Kingdom’s unwavering commitment to contributing to Pakistan’s economic growth.
The envoy made these remarks during a meeting with Federal Minister for Finance and Revenue Muhammad Aurangzeb, read a statement released by the Finance Division.
“Al-Malki commended the Government of Pakistan’s efforts in implementing structural and institutional reforms,” read the statement.
Meanwhile, during the meeting, the Finance Minister appreciated the Kingdom of Saudi Arabia’s “consistent economic support to Pakistan”, read the statement.
He highlighted the renewed interest shown by Saudi investors in pursuing joint ventures and business collaborations with Pakistan’s private sector.
Pakistan and Saudi Arabia share a long-standing and multifaceted relationship. The Kingdom, home to over two million Pakistani expatriates, remains one of the largest trade partners of the South Asian country.
Meanwhile, during the meeting, the Finance Minister recalled his productive meetings with Mohammad Al-Jadaan, Finance Minister of Saudi Arabia, and Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), during his visit to Washington in April this year.
“He further noted the significant outcomes of the high-level business delegation’s visit from Saudi Arabia to Pakistan in May, aimed at exploring investment opportunities, expanding bilateral cooperation, and scaling up partnerships across diverse sectors,” read the statement.
During the discussion, Senator Aurangzeb outlined Pakistan’s positive economic trajectory, citing key indicators such as currency stabilization, reduced inflation, a surge in remittances, prudent management of the current account deficit, and foreign exchange reserves sufficient to cover two months of imports, read the statement.
He emphasized that structural reforms are pivotal for ensuring sustainable economic growth and stability, forming a cornerstone of the government’s policy agenda.
Aurangzeb reaffirmed Pakistan’s commitment to a homegrown economic agenda centered on comprehensive institutional reforms across key sectors of the economy.
The Finance Division press release also added that the Ambassador acknowledged the immense potential for investment and business opportunities between the two countries.
“He indicated that a Saudi business delegation is expected to visit Pakistan in the coming months to further explore areas for joint ventures and collaborative investments,” the statement concluded.
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