A 50-person Saudi Arabian group will visit Pakistan to talk about potential investment prospects across a range of industries on Sunday, May 5.
Expectations are that progress on G2B and G2G agreements will be made during these discussions, which will center on trade agreements and investments in joint ventures across several economic sectors.
To welcome the Saudi side, Prime Minister Shehbaz Sharif has constituted a 16-person committee. The group, which is composed of senior officials and federal ministers, is in charge of setting up business meetings and making sure the Saudi delegation is secure.
The visit comes after talks led by Saudi Foreign Minister Faisal Bin Farhan Al Saud in April 2024, during which Pakistan presented a number of investment-related projects, such as improvements to the Petrochemical Complex and Pakistan Refinery Limited, as well as power-related projects like the Thar-Matiria-Rahim Yar Khan electricity transmission line and possible investments in the Diamer-Bhasha Dam.
The purpose of the next visit is to further the ongoing commercial relationships that Pakistani companies have with their Saudi counterparts.
Pakistan also wants to increase exports through improved B2B commerce in order to close its $4.7 billion trade imbalance with Saudi Arabia in FY22. A formal free trade deal between Saudi Arabia and the other GCC members is currently being worked on.
