DAVOS 26: Aurangzeb discusses economic ties with Kuwaiti FM

DAVOS: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met Wednesday in Davos with Subaih Abdul Aziz Al-Mukhaizeem, Minister of Finance of the State of Kuwait, on the sidelines of the World Economic Forum Annual Meeting.

The meeting provided an opportunity to exchange views on Pakistan’s economic outlook and explore avenues for strengthening bilateral economic and investment cooperation between Pakistan and Kuwait.

During the meeting, the Kuwaiti Finance Minister shared Kuwait’s positive assessment of Pakistan’s economic potential and emphasized the high regard and respect that Kuwait holds for Pakistan and its people.

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He noted that Kuwait was increasingly exploring investment opportunities beyond traditional markets and viewed Pakistan as a country with strong potential, supported by its human capital, growing market, and emerging opportunities.

He also highlighted Kuwait’s long-term and partnership-oriented investment approach, underscoring the value of pursuing mutually beneficial initiatives in brotherly countries.

Senator Muhammad Aurangzeb briefed his counterpart on Pakistan’s improving macroeconomic situation, noting that the economy had moved toward stability with significant progress in key indicators. He stated that the government’s focus had now shifted toward achieving sustainable and inclusive growth, while avoiding past boom-and-bust cycles.

The Finance Minister highlighted the strengthening of external accounts, rising remittances, growing IT exports, and improving investor confidence as encouraging signs of economic resilience.

The Finance Minister further shared that Pakistan was witnessing renewed momentum in structural reforms, including privatization initiatives that had attracted strong interest from local investors, reflecting confidence in the domestic economy.

He noted that additional opportunities were emerging across priority sectors such as agriculture, minerals and mining, pharmaceuticals, and technology, offering attractive prospects for long-term investment partnerships. He emphasized that these reforms were creating favourable conditions for sustained growth and deeper private sector participation.

Subaih Abdul Aziz Al-Mukhaizeem expressed optimism about Pakistan’s economic trajectory and noted that all key fundamentals required for growth were present, including a skilled workforce and significant market potential.

He conveyed Kuwait’s interest in exploring investment opportunities in Pakistan through its relevant institutions and underscored the importance of enabling frameworks that support long-term cooperation.

Both sides also discussed the importance of strengthening the overall framework for bilateral economic engagement and agreed on the value of advancing ongoing efforts to further facilitate investment flows and cooperation. They emphasized the need for continued engagement to ensure that institutional arrangements keep pace with the growing scope of bilateral relations.

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