Saudi Trade Delegation
RIYADH: A significant trade delegation from Saudi Arabia is poised to land in Pakistan on Sunday, aiming to delve into investment prospects across various sectors.
Comprising 50 members, this delegation includes representatives from approximately 30 Saudi companies, spanning diverse economic domains, as reported by the Saudi publication, Sabq.
The sectors under scrutiny encompass information technology, telecommunications, energy, aviation, construction, mineral exploration, agriculture, and human resource development.
The delegation’s agenda encompasses discussions aimed at fostering Pak-Saudi trade and fortifying business alliances with local entrepreneurs.
Federal Minister of Petroleum, Musadik Malik, has corroborated the impending arrival of this business delegation.
He revealed that 76 Pakistani companies have been shortlisted, anticipating augmented cooperation between Islamabad and Riyadh on governmental and private fronts.
Minister Malik outlined the focal points for talks, highlighting sectors such as petroleum, electricity, and oil refining, with discussions slated to encompass projects worth $8-10 billion.
Additionally, he disclosed plans for dialogue on projects ranging from $500 million to $1 billion, including the modernization of refineries and investment in the Diamer-Bhasha Dam project.
The delegation’s visit aligns with Prime Minister Shehbaz Sharif’s recent trip to Saudi Arabia, where he participated in the World Economic Forum’s Special Meeting on Global Collaboration, Growth, and Energy.
During his stay, Prime Minister Shehbaz engaged in talks with Saudi Crown Prince Mohammed bin Salman and Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi, underscoring a commitment to bolster economic ties between the two nations.
In their discussions, PM Shehbaz emphasized the dawn of a new era in economic relations, with concrete steps underway to amplify bilateral trade volumes.
The Saudi minister reciprocated by affirming the Kingdom’s prioritization of trade and investment in Pakistan, hinting at an imminent visit by a delegation of Saudi businessmen, traders, and investors.
This forthcoming delegation’s visit follows a recent visit by a high-level Saudi delegation to Islamabad, spearheaded by Foreign Minister Prince Faisal bin Farhan bin Abdullah.
This visit aimed at invigorating bilateral cooperation and nurturing a mutually beneficial economic partnership, underscoring the growing significance of Pakistan-Saudi Arabia relations on the economic front.
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