ISLAMABAD, (TDI): A high-level Saudi delegation, led by Investment Minister Khalid bin Abdulaziz Al-Falih, is arriving Pakistan today (Wednesday) for a three-day visit aimed at finalizing $2 billion in business-to-business investment proposals.
Pakistan’s foreign office confirmed Al-Falih’s visit from October 9 to 11 earlier this week, stating that he would be accompanied by a prominent delegation.
This visit comes ahead of the Shanghai Cooperation Organization (SCO) Summit next week and aims to enhance economic collaboration between the two nations.
During a cabinet meeting on Tuesday, Prime Minister Shehbaz Sharif announced the expected signing of agreements worth $2 billion with the Saudi delegation.
Deputy Prime Minister Ishaq Dar also addressed the matter at a ceremony in the federal capital, stating, “The Saudi Minister for Investment will arrive on Wednesday to finalize various business-to-business (B2B) investment proposals, which are estimated to exceed $2 billion.”
Dar acknowledged Saudi Arabia’s unwavering support in helping Pakistan navigate economic challenges, emphasizing that the Kingdom’s assistance has been crucial for Pakistan’s stability.
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“The two countries are on a path to forge ever closer strategic cooperation,” he said, underscoring the importance of maintaining momentum in bilateral relations to achieve their leaders’ vision of mutual growth and prosperity.
He extended sincere gratitude to Saudi Arabia for its continued support during both prosperous and challenging times.
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In recent months, Pakistan and Saudi Arabia have been strengthening their economic ties, with Crown Prince Mohamed bin Salman reaffirming earlier this year a commitment to expedite a $5 billion investment package for Pakistan.
As Pakistan seeks to bolster cooperation in trade, defense, energy, and other sectors, this visit is seen as a critical step in recovering from an ongoing economic crisis that has depleted foreign exchange reserves and weakened the national currency.
