Saudi Arabia, Pakistan to Sign 26 Contracts Valuing $2.2 Billion – Startup Pakistan

A high-level Saudi delegation, led by Minister of Investment Khalid Al-Falih, arrived in Islamabad to finalize deals worth $2.2 billion across various sectors like energy, IT, agriculture, and construction.

The 135-member team, including leaders from Saudi banks and authorities, was warmly welcomed by key Pakistani ministers. Some of the major agreements expected include joint ventures in textile production and corporate farming on 10,000 acres of land in Khanewal, with the goal of exporting agricultural products to Saudi Arabia.

Additionally, both countries are looking to collaborate in pharmaceuticals and human resources. This partnership is seen as an important step in boosting trade between Pakistan and Saudi Arabia, helping reduce Pakistan’s trade deficit with the Kingdom.

The talks are also paving the way for a formal Free Trade Agreement between Pakistan and the Gulf Cooperation Council (GCC) countries, which could further strengthen economic ties in the region. These contracts and potential agreements are part of a broader effort to foster long-term collaboration and economic growth between the two nations.

This growing partnership reflects the commitment to mutual benefits and greater cooperation in various fields.