Pakistan, KSA discuss investment in agriculture, minerals
- Meeting also included an exchange of views on the prevailing regional situation and ongoing conflict
Pakistan and Saudi Arabia discussed investment opportunities in agriculture and minerals, as the two countries seek to deepen economic cooperation and translate bilateral ties into tangible commercial outcomes, the Finance Division said on Thursday.
The development came during a meeting between Finance Minister Muhammad Aurangzeb and Dr Rajeh Tami Albugamy, Ambassador of the Kingdom of Saudi Arabia to Pakistan.
During the meeting, the finance minister thanked Saudi Arabia for its continued support for Pakistan and emphasised the need further to strengthen the economic relationship between the two countries.
The Saudi envoy underscored the historic relationship between the two countries and emphasised that stronger business-to-business engagement could further deepen people-to-people connections and create mutually beneficial economic opportunities.
The two sides discussed opportunities for cooperation in agriculture, minerals and mining, and other sectors with investment potential. They emphasised the importance of translating shared priorities into tangible outcomes and strengthening commercial engagement between the two countries.
Aurangzeb highlighted Pakistan’s progress in restoring macroeconomic stability, noting improvements in foreign exchange reserves and inflation, as well as recent upgrades by international credit-rating agencies.
He also referred to Pakistan’s return to international capital markets through its recent $3 billion Eurobond issuance and its access to China’s capital market. He highlighted the importance of building on recent economic gains to strengthen investor confidence and support sustainable, investment-led growth.
The meeting also included an exchange of views on the prevailing regional situation and ongoing conflict, with emphasis on the importance of peace, stability and continued cooperation to address emerging challenges and safeguard regional economic prospects.
The discussion also highlighted Pakistan’s strategic geographic location and its potential to serve as a regional trade and transit hub, facilitating connectivity and creating opportunities for wider economic cooperation.
The meeting reaffirmed Pakistan and Saudi Arabia’s commitment to strengthening their strategic partnership and expanding cooperation in trade and investment.