The Saudi-Pakistani Business Forum 2024 has convened in Islamabad, focusing on exploring cooperation opportunities between the two countries.
The forum was attended by Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, Pakistani Deputy Prime Minister and Minister of Foreign Affairs Ishaq Dar, and several entrepreneurs and investors from Pakistan and Saudi Arabia.
On the sidelines of the forum, both countries have signed several Memorandums of Understanding (MoUs). Pakistan Prime Minister Shehbaz Sharif, alongside Saudi Investment Minister Khalid Bin Abdul Aziz Al Falih and Chief of Army Staff General Syed Asim Munir, attended the signing ceremony.
The MoUs were signed between businessmen from both countries, spanning across various sectors including energy, agriculture, food, mining, information technology, and other key areas.
During the event, Al-Falih delivered a speech highlighting that the Kingdom of Saudi Arabia values its relationship with Pakistan, stressing that the Republic of Pakistan has the potential to emerge as a high-return, low-risk investment destination, and it is a prime investment hub for Saudi investors.
Al-Falih also emphasized the economic initiatives taken by Pakistani government, particularly the establishment of the “Special Council for Investment Facilitation” as an important platform to facilitate investment processes.
Furthermore, the volume of bilateral trade between the two countries reached $5.4 billion. The Minister is optimistic that the bilateral economic, investment, and trade cooperation between the countries will continue to enhance over time.
Ishaq Dar highlighted Pakistan’s unwavering commitment to strengthening economic and investment cooperation with Saudi Arabia, also expressing deep gratitude to the leadership of the Kingdom for their commitment to Pakistan, especially amid the pressing economic issues.
The forum also plays a pivotal role in enhancing the strategic partnership between Pakistan and Saudi Arabia, with both nations dedicated to fostering innovation and driving growth in the IT and telecommunications sectors.
