The federal government of Pakistan is set to sign approximately 30 investment agreements with a visiting Saudi delegation, according to sources from the Commerce Ministry. The delegation’s visit, which begins today, aims to bolster economic ties between the two nations across various sectors.

The agreements will encompass a wide range of industries, including agriculture, information technology, construction materials, petroleum, and power. Discussions will also cover critical areas such as food security, meat exports, and the export of Pakistani rice.

In addition to new agreements, existing contracts related to mining, oil refineries, and railways will be reviewed with Saudi stakeholders. The framework for these investment agreements has already been finalized, paving the way for swift implementation.

Saudi Arabia is poised to invest over $5 billion in Pakistan by 2027, with an initial investment agreement of $2 billion. This includes a $1 billion contribution from the Saudi private sector in the first phase.

To further enhance investment volumes, Saudi businesses plan to appoint local representatives in Pakistan. Additionally, meetings between Pakistani officials and the Saudi Fund for Development are scheduled to review regulatory approvals and the progress of necessary NOCs.