JEDDAH: Saudi Arabia's Deputy Minister for Foreign Trade Abdulrahman Al-Harbi has declared Pakistan one of Saudi Arabia’s “top destinations for making investments,” according to Pakistan’s Ministry of Commerce.
Al-Harbi made his comment at the first meeting of the two countries' Joint Working Group on Trade and Investment in Riyadh on Tuesday, the ministry said.
Commerce Secretary Mohammed Younus Dagha led the Pakistani delegation, which also included Additional Secretary for the Board of Investment (BOI), Saleem Ranjha, and Pakistan's Ambassador to Saudi Arabia Khan Hasham Bin Saddique. The Saudi Ambassador to Pakistan, Nawaf Saeed Ahmad Al-Maliki, also attended the talks.
“The Saudi side acknowledged and appreciated the attraction of Pakistan as an investment destination, in view of its macroeconomic indicators, growth projects, strategic location and overall investment regime,” the statement read.
The ministry said that the Saudi officials showed interest in investing in Pakistan in a number of sectors including petrochemicals, dairy, livestock, and mining.
“It was agreed that Saudi Arabia will send a technical team to Pakistan to review sector-specific opportunities and projects,” the statement added.
In major leap forward in bilateral economic cooperation, it was agreed that the two sides would activate a Pakistan-Saudi Joint Business Council within two months. Pakistan will also stage its single-country exhibition in Saudi Arabia in 2018.
“In order to give further impetus to trade relations, it was agreed to mutually facilitate trade by removing obstacles related to visa fees, company registration, shipment delays and mutual recognition of standards,” the statement explained.
Dr. Vaqar Ahmed, joint executive director at Islamabad-based think tank Sustainable Development Policy Institute (SDPI), told Arab News that Saudi Arabia and Saudi investors see Pakistan as a very lucrative destination.
“Several investors already working in the country are scaling up their business operations and entering into new joint ventures,” he said. “They see the current wave of economic growth as a significant opportunity.”
Ahmed added that the pace of growth in Pakistan is projected to pick up once the projects related to the China-Pakistan Economic Corridor (CPEC) are complete and the new infrastructure brings down the cost of doing business in the country.
“Saudi investors also recognize the vast economic potential emanating from the large domestic demand of the sixth-largest population in the world,” Ahmed pointed out.
Saudi Arabia views Pakistan as one of top destinations for investment: Saudi deputy minister
Saudi Arabia views Pakistan as one of top destinations for investment: Saudi deputy minister
Pakistan, China to sign multiple MoUs at major agriculture investment conference today
- Hundreds of Chinese and Pakistani firms to attend Islamabad event
- Conference seen as part of expanding CPEC ties into agriculture, trade
KARACHI: Islamabad and Beijing are set to sign multiple memorandums of understanding (MoUs) to boost agricultural investment and cooperation at a major conference taking place in the capital today, Monday, with hundreds of Chinese and Pakistani companies expected to participate.
The conference is being billed by Pakistan’s Ministry of National Food Security and Research as a platform for deepening bilateral agricultural ties and supporting broader economic engagement between the two countries.
“Multiple memorandums of understanding will be signed at the Pakistan–China Agricultural Conference,” the Ministry of National Food Security said in a statement. “115 Chinese and 165 Pakistani companies will participate.”
The conference reflects a growing emphasis on expanding Pakistan-China economic cooperation beyond the transport and energy foundations of the flagship China-Pakistan Economic Corridor (CPEC) into agriculture, industry and technology.
Under its first phase launched in 2015, CPEC, a core component of China’s Belt and Road Initiative, focused primarily on transportation infrastructure, energy generation and connectivity projects linking western China to the Arabian Sea via Pakistan. That phase included motorways, power plants and the development of the Gwadar Port in the country's southwest, aimed at helping Pakistan address chronic power shortages and enhance transport connectivity.
In recent years, both governments have formally moved toward a “CPEC 2.0” phase aimed at diversifying the corridor’s impact into areas such as special economic zones, innovation, digital cooperation and agriculture. Second-phase discussions have highlighted Pakistan’s goal of modernizing its agricultural sector, attracting Chinese technology and investment, and boosting export potential, with high-level talks taking place between planning officials and investors in Beijing.
Agri-sector cooperation has also seen practical collaboration, with joint initiatives examining technology transfer, export protocols and value-chain development, including partnerships in livestock, mechanization and horticulture.
Organizers say the Islamabad conference will bring together government policymakers, private sector investors, industry associations and multinational agribusiness firms from both nations. Discussions will center on investment opportunities, technology adoption, export expansion and building linkages with global buyers within the framework of Pakistan-China economic cooperation.
