Finance Minister Muhammad Aurangzeb has said that “vast opportunities exist” to enhance the export of skilled workforce from Pakistan to Saudi Arabia, as the oil-rich nation looks to diversify its economy.
The remarks were made in an exclusive interview with Arab News at AlUla Conference. Aurangzeb said Pakistan remains committed to learning from Saudi Arabia’s Vision 2030.
He said Pakistan and Saudi Arabia enjoy a “long-term and extremely strong” partnership.
“Pakistan can draw guidance for its economic reforms from Saudi Arabia’s successes,” he said.
The finance minister expresses satisfaction over increasing Saudi investments in Pakistan
“Saudi Aramco’s investment in Pakistan’s downstream petroleum sector is a welcome development,” he said.
The former banker informed that several Government-to-Government (G2G) agreements between Pakistan and Saudi Arabia are under discussion.
During the interview, the minister lauded the role of Saudi Arabia for its support and cooperation towards Pakistan in the International Monetary Fund (IMF) program.
Cash-strapped Pakistan is currently under a $7 billion IMF bailout program and navigating a tricky path to recovery.
The South Asian nation narrowly averted a sovereign debt default, with reserves not sufficient enough to meet a month’s worth of controlled imports.
Aurangzeb is attending the two-day high-level event on the special invitation of his Saudi counterpart, Mohammed Al-Jadaan, a news release said.
The conference, jointly organized by the IMF and the Saudi Ministry of Finance, aims to foster discussions on building resilience and sustainable economic growth amid global economic uncertainties.
Earlier, Aurangzeb participated in a group discussion with the Finance, Economic, and Development Ministers of the UAE, Egypt, Jordan, Morocco, and other GCC countries on the sidelines of the Emerging Markets Conference 2025 in AlUla, read a Finance Division statement on Monday.
“The discussion focused on regional economic cooperation, financial policies, and development strategies, with participating countries exchanging views on shared economic goals and sustainable growth opportunities,” read the statement.
The AlUla Conference is set to become an annual platform for emerging markets and developing economies to shape global economic discourse, enhance policy coordination, and strengthen international cooperation for sustainable economic stability.
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