Pakistan, KSA to expand cooperation

RECORDER REPORT

ISLAMABAD: Pakistan and Kingdom of Saudi Arabia (KSA) on Wednesday agreed to further expanding cooperation across key sectors, including food security, manufacturing, and mines and minerals. They have also decided to advance investments and technical collaboration for mutual benefit of the two nations, said the Foreign Office (FO) spokesperson in a statement.

The statement said Deputy Prime Minister/Foreign Minister, Senator Ishaq Dar, met with Saudi Minister of Economy and Planning, Faisal Fadhil Al-Ibrahim, on the sidelines of high-level events during Pakistan’s Presidency of the UN Security Council.

Both have reaffirmed the fraternal ties between Pakistan and KSA, and their shared vision for lasting peace, inclusive prosperity, and regional harmony.

Meanwhile, Dar met with a group of businessmen and investors in New York.

He shared a perspective on Pakistan’s significantly improved economic landscape, highlighting strategic initiatives such as the Special Investment Facilitation Council (SIFC), streamlined processes for investors across priority sectors including agriculture, IT, minerals, energy, and tourism.

He emphasised the critical role of the Diasporas towards realising the trade, investment, and economic ties between Pakistan and the US. He encouraged the participants to explore diverse investment opportunities in Pakistan with a view to leveraging the large consumer base, young population, growing digital economy and advantageous geographic positioning towards mutually rewarding outcomes.

The participants expressed their commitment to fostering deeper economic collaboration and long-term investment engagement between the two countries.