A high-ranking Saudi trade delegation arrived in Pakistan on Sunday to sign a number of bilateral economic and investment agreements.
The 50-member delegation is headed by the deputy minister of investment and includes representatives of 30 companies from various sectors.
The delegation is visiting at the directives of the Saudi government that is committed to speeding up a package of projects worth 50 billion dollars.
Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah visited Islamabad in mid-April at the head of a delegation during which he chaired a meeting of the Saudi-Pakistani joint investment council.
The meeting tackled the most significant opportunities for economic cooperation in various fields.
They also discussed increasing the trade exchange between Saudi Arabia and Pakistan to meet mutual aspirations.
Pakistani Prime Minister Shehbaz Sharif was in Riyadh last week where he attended the special meeting of the World Economic Forum that was held in the Saudi capital.
Pakistan’s Petroleum Minister Musadik Malik said on Saturday that Sharif was keen on the private sector driving forward development in the country.
The Saudi investors will sit down for talks with Pakistani companies to discuss investment potential.
He added that bilateral cooperation will benefit small establishments, especially technology companies that have been set up by youths, whom he predicted will reap the lion’s share of investments from Saudi businessmen.
