Islamabad: Pakistan and Saudi Arabia discussed investment opportunities in agriculture, minerals and mining on Thursday, with both sides calling for their shared economic priorities to be translated into practical outcomes.
Finance Minister Muhammad Aurangzeb met Saudi Ambassador Dr Rajeh Tami Albugamy during a courtesy visit, according to a Finance Ministry statement.
The discussions covered trade, investment and stronger engagement between businesses in the two countries. Aurangzeb thanked Saudi Arabia for its continued support and called for further strengthening economic relations.
The minister said Pakistan had made progress towards economic stability, citing improvements in foreign exchange reserves and inflation, alongside upgrades by international credit rating agencies.
He also referred to Pakistan’s return to international capital markets through a USD three billion Eurobond issuance and access to China’s capital market. He said the government remained committed to structural reforms and a stable, predictable environment for domestic and foreign investors.
Albugamy highlighted the countries’ longstanding relationship and said closer business links could create mutually beneficial opportunities while strengthening connections between their people.
Both sides discussed Pakistan’s geographic position and its potential role in regional trade and transit. They also exchanged views on the regional conflict and stressed the importance of peace and stability for economic cooperation.
The meeting follows earlier Saudi investment proposals. A delegation from Saudi Arabia’s Kyan presented projects in February covering energy, mining, information technology, agriculture and livestock.
In June, Pakistan sought Saudi participation in a proposed USD 10 billion refinery at Gwadar and related projects. Saudi based Falcon Vision Group subsequently expressed interest in investing up to USD 10 billion across several sectors in July.
Those earlier proposals and expressions of interest are separate from Thursday’s discussions. The ministry’s account did not announce a new signed investment agreement, committed funding or a project implementation timetable.
