Pakistan, Saudi Arabia resolve to strengthen trade and investment relations

Deputy Prime Minister of Pakistan Ishaq Dar (left) meets the Saudi Ambassador, Nawaf bin Said-Al Malki, in Islamabad on March 3, 2025. (@KSAembassyPK/X)
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Updated 04 March 2025
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Pakistan, Saudi Arabia resolve to strengthen trade and investment relations

  • Deputy PM Ishaq Dar meets Saudi Ambassador Nawaf bin Said Al-Malki in Islamabad
  • Pakistan has been eyeing Saudi investment in minining, oil and gas, and energy sectors

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar and Saudi Arabia’s Ambassador Nawaf bin Said-Al Malki expressed their resolve to strengthen existing ties between the two countries, particularly in trade and investment, state broadcaster reported this week amid Islamabad’s efforts to attract investment from Gulf countries in its priority sectors. 

Pakistan has pushed in recent months to strengthen trade and investment ties with friendly nations, particularly the Kingdom, which last year promised a $5 billion investment package that cash-strapped Islamabad desperately needs to shore up foreign reserves and fight a chronic balance of payment crisis.

Pakistani and Saudi businesses signed several agreements and memoranda of understanding (MoUs) in October 2024 worth $2.8 billion. Islamabad is also looking to attract Saudi investment in key sectors such as oil and gas, renewable energy, mining and minerals, infrastructure and others to keep its fragile $350 billion economy afloat.

“Saudi Ambassador Nawaf bin Said Al-Malki called on Deputy Prime Minister Ishaq Dar in Islamabad,” state broadcaster Radio Pakistan reported on Monday. “Both expressed their commitment to further strengthen the existing deep-rooted ties between the two countries, particularly in the areas of trade and investment.”

The state media said Malki conveyed Ramadan greetings for Dar and the people of Pakistan. The deputy prime minister wished the same to the Saudi leadership and the Kingdom’s people. 

Apart from strong trade and investment ties, Pakistan and Saudi Arabia also share deep cultural, defense and economic relations. The Kingdom is home to over two million Pakistanis and for years has remained the largest contributor to the country’s workers’ remittance inflows.

These remittances play a major role in supporting Pakistan’s external account, especially at a time when the country is recording small gains after a prolonged economic crisis that diminished its foreign exchange reserves and weakened its national currency.


Pakistan says multilateralism in peril, urges global powers to prioritize diplomacy over confrontation

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Pakistan says multilateralism in peril, urges global powers to prioritize diplomacy over confrontation

  • The country tells the UN international security system is eroding, asks rival blocs to return to dialogue
  • It emphasizes lowering of international tensions, rebuilding of channels of communication among states

ISLAMABAD: Pakistan warned the world community on Monday that multilateralism was “in peril” amid rising global tensions, urging major powers to revive diplomacy and dialogue to prevent a further breakdown in international security.

Speaking at a UN Security Council briefing, Pakistan’s ambassador to the UN, Asim Iftikhar Ahmad, said the world was drifting toward confrontation at a time when cooperative mechanisms were weakening.

His comments came during a session addressed by Finland’s foreign minister Elina Valtonen, chairing the Organization for Security and Co-operation in Europe (OSCE), the world’s largest regional security body.

Formed out of the 1975 Helsinki Final Act, the OSCE was designed during the Cold War to reduce tensions, uphold principles of sovereignty and human rights and promote mechanisms for peaceful dispute resolution.

“Today, the foundational ethos of international relations, multilateralism, cooperation and indivisible security, as envisaged in the preamble of Helsinki Final Act, is perhaps facing its biggest challenge in decades,” Ahmed said. “The OSCE, too, is navigating a difficult geopolitical landscape, with conflict raging in the heart of Europe for nearly four years, depletion of trust and unprecedented strains on peaceful co-existence.”

He said a return to the “Helsinki spirit” of dialogue, confidence-building and cooperative security was urgently needed, not only in Europe but globally.

“This is not a matter of choice but a strategic imperative to lower tensions, rebuild essential channels of communication, and demonstrate that comprehensive security is best preserved through cooperative instruments, and not by the pursuit of hegemony and domination through military means,” he said. “Objective, inclusive, impartial, and principle-based approaches are indispensable for success.”

Ahmed’s statement came in a year when Pakistan itself fought a brief but intense war after India launched missile strikes at its city in May following a militant attack in Indian-administered Kashmir. New Delhi blamed Pakistan for the assault, an allegation Islamabad denied while calling for a transparent international investigation.

The Pakistani diplomat said the international system was increasingly defined by bloc politics, mistrust and militarization, warning that such trends undermine both regional stability and the authority of multilateral institutions, including the UN itself.

He urged member states to invest more in preventive diplomacy and the peaceful settlement of disputes as reaffirmed by the Council in Resolution 2788.

Ahmad said Pakistan hoped the OSCE would continue reinforcing models of cooperative security and that the Security Council would back partnerships that strengthen international law and the credibility of multilateral frameworks.

The path forward, he added, required “choosing cooperation over confrontation, dialogue over division, and inclusive security over bloc-based divides.”