The Pakistani ministers engaged in talks regarding enhancing bilateral trade and investment with Saudi Arabia across multiple sectors such as construction, infrastructure, and the digital economy, as stated by the commerce ministry.
Ejaz held discussions with Saudi Arabia's commerce minister, Majid bin Abdullah Al-Qasabi, who headed a delegation comprising prominent Pakistani business figures. Among the delegation were renowned Pakistani entrepreneur Arif Habib and the president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram. "Pakistan and Saudi Arabia agreed on enhancing bilateral trade", Pakistan's commerce ministry said. "The two sides agreed to enhance investment in the fields of construction, digital economy and infrastructure".
Recently, Al-Qasabi posted a message on the social media platform X, where he conversed with Ejaz about advancing bilateral trade relations and investment prospects between the two nations. Over the past year, a delegation of 15 prominent Pakistani IT firms, headed by IT Minister Dr. Umar Saif, journeyed to Saudi Arabia and finalized agreements aimed at fostering digital transformation, spurring innovation, and enhancing digital infrastructure.
The accords inked by both nations will bolster the landscape for small and medium-sized enterprises (SMEs) and startups, fostering an environment conducive to business transfer and the sharing of information regarding accelerators and incubators. Furthermore, Saudi Arabia and Pakistan have resolved to institute a dedicated task force aimed at fostering digital collaboration between the two nations.
Pakistan maintains a robust economic and trade partnership with Saudi Arabia. With over 2.7 million Pakistani expatriates residing in the kingdom, it stands as the primary source of remittances for Pakistan. Additionally, Saudi Arabia has consistently supported Pakistan during its economic challenges and serves as a vital strategic ally in South Asia.