The Pakistan-Saudi Arabia investment conference commenced on Monday, heralding a new chapter in economic collaboration between the two nations. The head of the Saudi delegation, expressing optimism, declared Pakistan as a high priority for economic, investment, and business opportunities.
Led by Deputy Investment Minister Ibrahim Almubarak, a 50-member high-level Saudi trade delegation has descended upon Islamabad to explore avenues of trade and investment. The conference comes in the wake of discussions between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman, aiming to bolster bilateral trade and investment for mutual growth and prosperity.
Addressing the event, Ibrahim Almubarak underscored Saudi companies’ keen interest in investing in Pakistan, citing it as a favorable destination for investment. He highlighted the delegation’s visit as a testament to Saudi Arabia’s commitment to strengthening ties with Pakistan.
Finance Minister Muhammad Aurangzeb, in his remarks, reiterated the government’s dedication to facilitating the private sector for export-led growth. He outlined the country’s positive economic trajectory, citing significant growth in agriculture GDP and a stable local currency. Aurangzeb expressed confidence in reducing the current account deficit and welcomed foreign investment in the Pakistan Stock Market.
Furthermore, Minister for Petroleum Musadik Masood Malik emphasized the importance of collaboration between the private sectors of both countries to diversify economies and add value. He highlighted the potential for cooperation in sectors such as mines and minerals, tourism, and agriculture, advocating for joint infrastructure development initiatives.
The conference signifies a strategic alignment between Pakistan and Saudi Arabia, with both nations poised to leverage their strengths for sustainable economic development and prosperity. As discussions progress and agreements are forged, the partnership is expected to yield tangible benefits for the people of both countries.
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