Pakistani and Saudi Commerce Ministers Agree To Boost Bilateral Trade

The Pakistani ministers discussed improving bilateral trade and investment with Saudi Arabia in various sectors, including construction, infrastructure, and the digital economy, according to the commerce ministry.

Ejaz met Saudi Arabia’s commerce minister, Majid bin Abdullah Al-Qasabi, who led a delegation of prominent Pakistani businesspersons. Members of the delegation included notable Pakistani businessperson Arif Habib and the president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram, as per arabnews.

“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.”

Al-Qasabi recently shared a message on the social media platform X, in which he discussed with Ejaz the development of bilateral trade relations and investment opportunities in both countries. In the past year, a delegation of 15 leading Pakistani IT companies, led by IT Minister Dr. Umar Saif, visited Saudi Arabia and signed agreements to promote digital transformation, drive innovation and improve digital infrastructure.

The agreements signed by both countries will enhance the environment for small and medium-sized businesses, as well as startups. They will also encourage the transfer of businesses and the exchange of information on accelerators and incubators. Additionally, Saudi Arabia and Pakistan have decided to establish a special task force to promote digital cooperation between the two countries.

Pakistan has a strong economic and trade relationship with Saudi Arabia. More than 2.7 million Pakistani expatriates live in the kingdom, making it the largest source of remittances for Pakistan. Moreover, Saudi Arabia has frequently helped Pakistan during its economic crises and is an important strategic partner for the country in South Asia.