RIYADH: Just days after Prime Minister Shehbaz Sharif's visit to Riyadh, a 50-member trade delegation is scheduled to visit Pakistan today (Sunday), a Saudi news publication, Sabq, reported on Saturday.
The high-level delegation aims to explore investment opportunities in various fields in Pakistan and strengthen business ties with local entrepreneurs, according to the publication.
Moreover, it will also hold discussions regarding various sectors for the promotion of Pak-Saudi trade.
Representatives of about 30 companies in the Kingdom — representing various economic sectors including information technology, communications, energy, aviation, construction, mineral exploration, agriculture, and human resource development — are a part of the delegation.
Federal Minister of Petroleum Musadik Malik also confirmed regarding the arrival of a business delegation to Pakistan.
The minister said 76 Pakistani business companies have been shortlisted in this regard, adding that cooperation between Islamabad and Riyadh will be increased at the government and private levels.
Malik said that talks will place on the federal level regarding petroleum, electricity and oil refining sectors, adding that about eight to 10 projects worth $8-10 billion will also come under discussion.
"Projects from $500 million to $1 billion will also be included in the discussions," said the minister. He added that the discussions will also include modernisation of the refinery.
Malik said investment on Diamer-Bhasha Dam will also take place.
The delegation's arrival in Pakistan is followed by PM Shehbaz's visit to Saudi Arabia to attend the World Economic Forum’s Special Meeting on Global Collaboration, Growth and Energy.
During his visit, the premier also met Saudi Crown Prince Mohammed bin Salman to discuss cooperation in various sectors and also held a meeting with Saudi Minister of Commerce Dr Majid bin Abdullah Al-Qasabi.
In his meeting with the minister, PM Shehbaz said that the economic ties between Islamabad and Riyadh had entered a new era as both countries were set to take concrete measures to boost the volume of bilateral trade.
The Saudi minister said that the Kingdom was prioritising trade and investment in Pakistan, adding that a delegation of Saudi businessmen, traders and investors would soon visit the country.
Last month, a high-level delegation from Saudi Arabia led by Foreign Minister Prince Faisal bin Farhan bin Abdullah had also visited Islamabad on a two-day visit aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership.
The delegation consisted of Saudi Minister of Water and Agriculture Engineer Abdul Rahman Abdul Mohsen Al-Fadley, Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef, Deputy Minister of Investment Badr AlBadr, Head of Saudi Special Committee Mohammad Mazyed Al Towaijri, and senior officials from Ministry of Energy and Saudi Fund for General Investments.
JAC demands Punjab and federal governments to hold extensive discussions with media organisations
During AJK visit, premier says people raised their voices for their genuine demands
Interior minister says his wife not only owns properties in Dubai but also in UK
Gul sys she has forgiven Cheema as per the decision of her party’s leadership
CJP Qazi Faez Isa-led bench will hear the matter today, according to sources
PMD predicts dust storms and thunderstorms with isolated rains in upper parts of country from May 16