Pakistan and Saudi Arabia discuss investment in agriculture and minerals

Pakistan and Saudi Arabia discussed expanding investment in agriculture, minerals and mining, the Finance Division said on Thursday. The talks took place as the two countries seek to deepen economic cooperation and turn their bilateral ties into tangible commercial results.

Federal Minister for Finance and Revenue Muhammad Aurangzeb met Dr Rajeh Tami Albugamy, the Ambassador of the Kingdom of Saudi Arabia to Pakistan, at the Finance Division. They discussed bilateral economic cooperation, trade, investment and shared priorities.

According to the reports, the finance minister thanked Saudi Arabia for its continued support. He then described what he called progress in restoring macroeconomic stability in Pakistan, citing improvements in foreign exchange reserves and inflation.

Aurangzeb also cited recent upgrades by international credit-rating agencies. He noted that Pakistan has returned to international capital markets through a recent $3 billion Eurobond issuance and that the country has access to China's capital market.

He said Pakistan aims to build on these gains to strengthen investor confidence and support growth led by investment. He reaffirmed the country's commitment to structural reforms and to a stable, predictable investment environment.

The two sides discussed cooperation in agriculture, minerals and mining, along with other sectors that have investment potential. They stressed the need to turn shared priorities into tangible outcomes and to strengthen commercial engagement.

The Saudi ambassador said stronger business-to-business engagement could also deepen people-to-people ties between the two countries.

The meeting also included an exchange of views on the regional situation and the ongoing conflict. Both sides emphasised peace, stability and continued cooperation, and reaffirmed their commitment to strengthening the strategic partnership and expanding cooperation in trade and investment.