Saudi delegation to visit Pakistan for economic cooperation talks

A high-level delegation from Saudi Arabia led by Investment Minister Khalid bin Abdulaziz Al-Falih will arrive in Pakistan on Tuesday to hold discussions on economic cooperation between the countries.

The delegation will hold business-to-business meetings from Oct. 9 to 11 on the agriculture, mining, telecom and oil sectors, a senior Pakistani government official informed Nukta on Monday.

Pakistan had previously offered Saudi Arabia a cattle farm in Punjab for 30,000 animals that would produce 6,000 tons of meat annually.

In addition, Pakistan has also asked for investment in corporate farming, cultivating 1.5 million acres of previously unfarmed land and mechanizing existing 50 million acres of agricultural lands.

Officials told Nukta that Pakistan has notified the sectoral director generals and liaison officers of the Special Investment Facilitation Council, the Board of Investment and the Ministry of Commerce, whose tasks are to improve coordination between Pakistani and Saudi companies.

Businesses based in both countries had previously signed memorandums of understanding on onion products and human resource development a few months ago and the government is optimistic that Saudi investors will also sign MoUs related to meat and mining sectors.

Officials said the visiting Saudi delegation will also meet Prime Minister Shehbaz Sharif, President Asif Ali Zardari and high-ranking officials of different ministries.